8) On January 1, a company issues 8%, 5 year, $300,000 bonds that pay interest semiannually each June 30 and December 31, on the issue date, the annual market rate of interest is 6%. Compute the price of the bonds on their issue date. The following information is taken from present value tables 8.5302 8.1109 0.7441 0.6756 Present value of an annuity for 10 periods at 3% ent va e of an an ity for 10 e is at 4% Present value of 1 due in 10 periods at 3% Present value of 1 due in 10 periods at 4%