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Chinook Inc. has available for issue a $3,225,000 bond due in eight years. Interest at the rate of 8.50% is to be paid semiannually. Calculate

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Chinook Inc. has available for issue a $3,225,000 bond due in eight years. Interest at the rate of 8.50% is to be paid semiannually. Calculate the issue price if the market interest rate is: (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Issue Price Market Interest Rate a. 8.00% b. 8.50% C. 9.25%

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