On January 1, 2020 Wildhorse Co. issued five-year bonds with a face value of $760,000 and a stated interest rate of 12% payable semiannually on July 1 and January 1. The bonds were sold to yield 10%.

Present value table factors are:
Present value of 1 for 5 periods at 10%		0.62092
Present value of 1 for 5 periods at 12%		0.56743
Present value of 1 for 10 periods at 5%		0.61391
Present value of 1 for 10 periods at 6%		0.55839
Present value of an ordinary annuity of 1 for 5 periods at 10%		3.79079
Present value of an ordinary annuity of 1 for 5 periods at 12%		3.60478
Present value of an ordinary annuity of 1 for 10 periods at 5%		7.72173
Present value of an ordinary annuity of 1 for 10 periods at 6%		7.36009

Click here to view factor tables Calculate the issue price of the bonds. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,582.)

Issue price of bonds

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