Excercise $12-2$ Determining market price following a change in interest rates $($LO $12-2)$

Akers Company sold bonds on July $1,20$X$1,$ with a face value of $$100,000.$ These bonds are due in $10$ years. The stated annual interest

rate is $6\%$ per year, payable semiannually on June $30$ and December $31.$ These bonds were sold to yield $8\%.$ By July $1,20$X$2,$ the

market yield on these bonds had risen to $10\%.$ Use the following links to the present value tables to calculate answers. $($PV of $1,$ PVAD

of $1,$ and PVOA of $1)($Use the appropriate factor$($s$)$ from the tables provided. Round your final answers to the nearest whole dollar

amount. Do not round intermediate calculations.$)$

Required:

What was the bonds' market price on July $1,20\backslash$times $2?$

Market price of the bond