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Marwick Corporation issues 12%, 5 year bonds with a par value of $1,250,000 and semiannual interest payments. On the issue date, the annual market rate

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Marwick Corporation issues 12%, 5 year bonds with a par value of $1,250,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%. What is the bond's Issue (selling) price, assuming the following Present Value factors: ine 5 10 5 Present Value of an Annuity (series of payments) 3.6048 7.3601 3.7908 7.7217 128 68 108 58 Present value of 1 (single sum) 0.5674 0.5584 0.6209 0.6139 10

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