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AlphabetInc.issued7-yearbondswithafacevalueof$700,000onJanuary1st,2023,witha stated interest rate of 7% payable semi-annually. The market interest rate at the time of issuance was 8%. Calculate the issue price of the

Alphabet Inc. issued 7-year bonds with a face value of $700,000 on January 1st, 2023, with a stated interest rate of 7% payable semi-annually. The market interest rate at the time of issuance was 8%. Calculate the issue price of the bonds.

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