Ayayai Inc, manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new piant to meet the increasing demand for the compary's bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $3.478,400 of 11% term corporate bonds on March 1. 2025, due on March 1. 2040. with interest payable each March 1 and September 1. At the time of issuance, the market interest rate for similar financial instruments is 10%. Click here to view factor tables. As the controller of the company, determine the selling price of the bonds. (Round factor volues to 5 decimal piaces, es. 1.25124 and final. answer to 0 decimol ploces, e.g. 458,581.) Selling price of the bonds $