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On December 31, 2018, Honey Company issued $870,000 of 3% bonds. The market interest rate at the time of issuance was 6%. The bonds pay

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On December 31, 2018, Honey Company issued $870,000 of 3% bonds. The market interest rate at the time of issuance was 6%. The bonds pay interest on June 30 and December 31 and mature in 20 years. Required: Compute the selling price of the bonds on December 31, 2018. Note: Round all intermediate calculations to three decimal places, and round your final answer to the nearest cent. Selling price of bonds: $ 11 s

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