exercise b-12 present value of bonds LO P1, P3

Exercise B-12 Present value of bonds LO P1, P3 Spiller Corp plans to issue 8% 5-year, $440,000 par value bonds payable that pay interest semiannually on June 30 and 31. The bonds are dated December 31, 2016, and are issued on that date. (PV of $1. FV of $1. PVA of $1. and FVA of S1) (Use appropriate dollar.) If the market rate of interest for the bonds is 6% on the date of issue, what will be the total cash proceeds from the bond issue?