On January 1, a company issued bonds with a par value of $400,000. The bonds mature in 3 years and have a contract rate of 10% Interest is paid semiannually on June 30 and December 31 and the market rate is 11%. Using the present value factors below, the issue (selling) price of the bonds is: Present Value of an number of Annuity (series of Present value of 1 periods (n) interest rate (i)- payments) 3 10.0% 9636 5.5% 11.0% 5.0% 2.4869 4.9955 2.4437 5.0757 0,7462 (single sum) 0.7513 0.7252 0.7312 $410,010. $389,990. $ 400,000. $ 99,910. $ 290,080