construction of a new plant to meet the increasing Sweet Inc. manufactures cydling equipment. Recently, the vice president of operations of the company has requested demand for the company's bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $3,205 500 of 1096 term corporate bonds on March 1, 2017, due on March 1, 2032, with interest payable each March 1 and September 1, with the first interest payment on September 1st, 2017. At the time of issuance, the market interest rate for similar financial instruments is 12%. As the controller of the company, determine the selling price of the bonds. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to o decimal places, e.g- 458,581.) Selling price of the bonds