Bookmart Corp. issued 3 year bonds with a face value of $500,000 on

January 1, 2020 and received total proceeds of $583,475.62. The bonds

have an interest rate of 4% and interest is paid semi-annually on

January 1 and July 1. The market interest rate was 5% when the bonds

were issued.

Given the information above, what was the carrying value of the bonds

payable account after the first interest payment? Round your answer to

two decimal places. You must include a comma in the correct spot for

your numbers.