On January $1,2024,$ Sandhill Ltd$.$ issued bonds with a maturity value of $$8\mathrm{.}50$ million when the market rate of interest was $4\%.$ The bonds have a coupon $($contractual$)$ interest rate of $5\%$ and mature on January $1,2034.$ Interest on the bonds is payable semi$-$annually on July $1$ and January $1$ of each year. The company's year end is December $31.$

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Calculate the issue price of the bonds. $($For calculation purposes, use $5$ decimal places as displayed in the factor table provided. Round final answer to $0$ decimal places, e$.$g$.5,275.)$