James Corporation is planning to issue bonds with a face value of $503,000 and a coupon rate of 6 percent. The bonds mature in 10 years and pay interest semiannually every June 30 and December 31. All of the bonds will be sold on January 1 of this year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.) Required:

Compute the issue (sales) price on January 1 of this year for each of the following independent cases:

a. Case A: Market interest rate (annual): 4 percent.