On December 31, 2016, when the market interest rate is 16%, McCann Realty issues $500,000 of 14.25%, 10-year bonds payable. The bonds pay interest semiannually. Determine the present value of the bonds at issuance. 5 (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Present Value of Annuity of $1 table.) (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Future Value of Annuity of $1 table.) The present value of the bonds at issuance amounts to $ - (Round all currency amounts to the nearest whole dollar.)