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Carla Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing

Carla 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 companys bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $3,239,500 of 8% term corporate bonds on March 1,2020, due on March 1,2035, with interest payable each March 1 and September 1, with the first interest payment on September 1st,2020. At the time of issuance, the market interest rate for similar financial instruments is 6%.As the controller of the company, determine the selling price of the bonds.Selling price of the Bonds: $

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