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On December 31, 2014, Callahan Auto issued $900,000 of 9%, 10-year bonds. Interest is payable semiannually on June 30 and December 31. Required: What is

On December 31, 2014, Callahan Auto issued $900,000 of 9%, 10-year bonds. Interest is payable semiannually on June 30 and December 31.

Required:

What is the issue price if the bonds are sold to yield 8%? Follow the format shown in Present Value tables as you complete the requirement. If required, round your calculations and final answer to the nearest whole dollar.

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