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Bond Issue Price On December 31, 2018, Goa Hot Rods issued $2,000,000 of 6%, 10-year bonds. Interest is payable semiannually on June 30 and December

Bond Issue Price

On December 31, 2018, Goa Hot Rods issued $2,000,000 of 6%, 10-year bonds. Interest is payable semiannually on June 30 and December 31.

Required:

What is the issue price if the bonds are sold to yield 8%? (Note: Round to the nearest dollar.)

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