A company issues bonds with a par value of $$440,000.$ The bonds mature in $5$ years and pay $8\%$ annual interest in semiannual payments. The annual market rate for the bonds is $6\%.$ Compute the price of the bonds on their issue date. The following information is taken from present value tables:

Present value of an annuity $($series of payments$)$ for $10$ periods at $3\%$

$8\mathrm{.}5302$

Present value of an annuity $($series of payments$)$ for $10$ periods at $4\%$

$8\mathrm{.}1109$

Present value of $1($single sum$)$ due in $10$ periods at $3\%$

$0\mathrm{.}7441$

Present value of $1($single sum$)$ due in $10$ periods at $4\%$

$0\mathrm{.}6756$

Table Values are Based on:

$\backslash$table$[[n=,10,,],[i=,3\mathrm{.}0\%,,],[$Cash Flow,Table Value,Amount,Present Value$],[$Par $($maturity$)$ value$],[$Interest $($annuity$),,,],[$Price of bonds,$0\mathrm{.}00]]$