Issuance Price of Bonds Patterson Company issued 30-year bonds on June 30. The face value of the bonds was $740,000. The stated interest rate on the bonds was 6%. The market rate of interest at the time of issuance was 4%. Patterson also issued another set of bonds on August 31. These bonds were 20-year bonds and had a face value of $554,000. The stated rate of interest on these bonds was 6%. The market rate of interest at the time these bonds were issued was 8%. Both sets of bonds pay interest semiannually. Use the Present value of a single sum ($1) and Present value of an annuity ($1). Required: Calculate the issuance price of these bonds. Round your final answers to the nearest dollar. June 30 Bonds August 31 Bonds