A bond payable is dated January 1, 2014, and is issued on that date. The face value of the bond is $100,000, and the face rate of interest is 8%. The bond pays interest semiannually. The bond will mature in five years.

What will be the issue price of the bond if the market rate of interest is 6% at the time of issuance? I already tried

$8000x4.21236	33698.88
$100000 x 0.74726 =	74726.00
	= 108424.88