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Cullumber Corp. issued $390,000 of 3-year, 7% bonds on May 1, 2021. The market interest rate when the bonds were issued was 8%. Interest is
Cullumber Corp. issued $390,000 of 3-year, 7% bonds on May 1, 2021. The market interest rate when the bonds were issued was 8%. Interest is payable quarterly. Determine the price of the bond. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 2 decimal places, e.g. 15.75.) Price of the bond $
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