Enviro Company issues 8%, 10-year bonds with a par value of $280,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87 1/2.

Par value	x Price	=	Selling Price
	87 1/2
Cash Flow	Table Value		Present Value
280 000 par (maturity) value
11 200$ interest payment
Price of bond
Difference due to rounding of table values