Enviro Company issues 8%, 10-year bonds with a par value of $400,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87 Confirm that the bonds' selling price is approximately correct using Excel Par Value Issue Price Stated Interest Rate Market Interest Rate 400,000 0 Semi-annual interest rate Semi-annual periods Semi-annual interest payments 4 Price of bond (PV) 5 Difference due to rounding