$($a$)$

Calculate the present value $($issue price$)$ of the bonds on May $1(1)$ using the factor tables provided $(2)$ a financial calculator, or $(3)$

Excel function PV$.($Hint: Refer to Chapter $3$ for tips on calculating.$)($Round present value factor calculations to $5$ decimal places, e$.$g$.$

$1\mathrm{.}25124$ and final answer to $O$ decimal places e$.$g$.58,971.)$

Present value of the bonds $