Exercise 14.1

Pharoah Corporation issues $560,000 of 8% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. 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.)

please show all work. i relly need to know how to work these kind of problems please.

Issue price of the bonds= $