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Cullumber Corporation issues $ 4 5 0 , 0 0 0 of 9 % bonds, due in 9 years, with interest payable semiannually. At the

Cullumber Corporation issues $450,000 of 9% bonds, due in 9 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%.
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Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, e.g.1.25124 and the final answer to 0 decimal places, e.g.58,971.)
Issue price of the bonds $
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