Banjo Education Corp. issued a $4\%,$ $$110,000$ bond that pays interest semiannually each June $30$ and December $31.$ The date of issuance was January $1,2020.$ The bonds mature after four years. The market interest rate was $6\%.$ Banjo Education Corp.$$s year$-$end is December $31.$ Use TABLE $14$A$\mathrm{.}1$ and TABLE $14$A$\mathrm{.}2.($For all the requirements, Use appropriate factor$($s$)$ from the tables provided.$)$

Required:

Preparation Component:

$1.$ Calculate the issue price of the bond. $($Round the final answer to the nearest whole dollar.$)$