6) The face value of a bond is $75.000. its stated rate is 7%, and the term of the bond is five years. The bond pays interest semiannually. At the time of issue, the market rate is 8%. Determine the present value of the bonds at issuance. Present value of SI: 4% 5% 6% 7% 8% 0.822 0.784 0.747 0.713 0.681 6 0.790 0.746 0.705 0.666 0.630 | 7 0.760 0.711 | 0.665 0.625 0.583 8 0.731 0.677 0.627 0.582 0.540 9 0.703 0.6450.592 0.544 0.500 10 0.676 0.614 0.558 0.508 0.468 Present value of annuity of SI: 4% 5% 6% 7% 8% 5 4.452 4.329 4.212 4.100 3.993 6 5.242 5.076 4.917 4.767 4.623 76.002 5.786 5.582 5.389 5.206 86.733 6.463 6.210 5.971 5.747 | 9 7.435 7.108 6.802 6.515 6.247 | 10 8.111 2.722 7.360 7.024 6.710