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On January 1. a company issues bonds dated January 1 with a par value of $360,000. The bonds mature In 3 years. The contract rate Is 7%, and Interest is paid semiannually on June 30 and December 31. The market rate is 8%. Using the present value factors below. the issue (selling) price of the bonds Is; Present Value of an Annuity Present (series of value of 1 n= payments) (single sum) 7.0% 2. 6243 0. 8163 6 3.5% 5. 3286 0. 8135 8.0% 2.5771 0. 7938 6 4.0% 5. 2421 0. 7903