Kalani Corporation is planning to issue bonds with a face value of $504,000 and a coupon rate of 6 percent. The bonds mature in 7 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)

Note: Use appropriate factor(s) from the tables provided.

Required:

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

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

Case B: Market interest rate (annual): 6 percent.

Case C: Market interest rate (annual): 8.5 percent.