\begin{tabular}{rr} 8% & 9% \\ \hline 1.08000 & 1.09000 \\ 1.16640 & 1.18810 \\ 1.25971 & 1.29503 \\ 1.36049 & 1.41158 \\ 1.46933 & 1.53862 \\ & \\ 1.58687 & 1.67710 \\ 1.71382 & 1.82804 \\ 1.85093 & 1.99256 \\ 1.99900 & 2.17189 \\ 2.15892 & 2.36736 \\ & \\ 2.33164 & 2.58043 \\ 2.51817 & 2.81267 \\ 2.71962 & 3.06581 \\ 2.93719 & 3.34173 \\ 3.17217 & 3.64248 \\ & \\ 3.42594 & 3.97031 \\ 3.70002 & 4.32763 \\ 3.99602 & 4.71712 \\ 4.31570 & 5.14166 \\ 4.66096 & 5.60441 \\ & \\ 5.03383 & 6.10881 \\ 5.43654 & 6.65860 \\ 5.87146 & 7.25787 \\ 6.34118 & 7.91108 \\ 6.84847 & 8.62308 \\ & \\ 7.39635 & 9.39916 \\ 7.98806 & 10.24508 \\ 8.62711 & 11.16714 \\ 9.31727 & 12.17218 \\ 10.06266 & 13.26768 \\ & \\ 10.86767 & 14.46177 \\ 11.73708 & 15.76333 \\ 12.67605 & 17.18203 \\ 13.69013 & 18.72841 \\ 14.78534 & 20.41397 \\ 15.96817 & 22.25123 \end{tabular} Teal Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the company's bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $3,201,000 of 9% 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 8%. Click here to view factor tables. As the controller of the company, determine the selling price of the bonds. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Selling price of the bonds