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On January 1, 2020SandhillCo. issued five-year bonds with a face value of $570,000and a stated interest rate of16% payable semiannually on July 1 and January

On January 1, 2020SandhillCo. issued five-year bonds with a face value of $570,000and a stated interest rate of16% payable semiannually on July 1 and January 1. The bonds were sold to yield12%.

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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