On January 1, a company issues bonds dated January 1 with a par value of $300,000. The bonds mature in 3 years. The contract rate is 10%, and interest is paid semiannually on June 30 and December 31. The market rate is 11%. Using the present value factors below, the issue (selling) price of the bonds is: n= is Present Value of an Annuity (series of payments) 2.4869 5.0757 2.4437 4.9955 Present value of 1 (single sum) 0.7513 0.7462 0.7312 0.7252 3 6 10.0% 5.08 11.0% 5.5% 3 6