M10-8 (Algo) Computing the Price of a Bond Issued at a Premium LO10-5 Waterhouse Company plans to issue bonds with a face value of $505,000 and a coupon rate of 8 percent. The bonds will mature in 10 years and pay interest semiannually every June 30 and December 31 . All of the bonds are 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. Round your final answer to nearest whole dollar. Determine the issuance price of the bonds assuming an annual market rate of interest of 6 percent