On January 1, 2023, Crane Corp. issued eight-year, 4% bonds with a face value of $604000, with interest payable semi-annually on June 30 and December 31. The bonds were sold to yield 5%. Table values are: Present value of 1 for 8 periods at 4% Present value of 1 for 8 periods at 5% Present value of 1 for 16 periods at 2.00% Present value of 1 for 16 periods at 2.50% Present value of annuity for 8 periods at 4% Present value of annuity for 8 periods at 2.50% Present value of annuity for 16 periods at 2.00% Present value of annuity for 16 periods at 2.50% The present value of the interest is 0.731 0.677 0.728 0.674 6.733 7.170 13.578 13.055