Chinook Inc. has available for issue a $3,250,000 bond due in eight years. Interest at the rate of 11.00% 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.) Market Interest Rate Issue Price a. 10.50% b 11.00% $ 3,250,000 C 11.75%