National Orthopedics Co. issued 9% bonds, dated January 1, with a face amount of $400,000 on January 1, 2016. The bonds mature on December 31, 2019 (4 years). For bonds of similar risk and maturity the market yield was 12%. Interest is paid semiannually on June 30 and December 31 (EV of $1, PW of $1, EVA of $1, PVA of $1, EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price of the bonds at January 1, 2016. Table values are based on: Cash Flow Present Value Amount Interest Principal Price of bonds