On January 1, Ruiz Company issued bonds as follows: Face Amount: Number of Years: Stated Interest Rate: Interest payments per year $500,000 15 7% 2 Required: 1) Calculate the bond selling price given the two market interest rates below. Use formulas that reference data from this worksheet and from the appropriate future or present value tables (found by clicking the tabs at the bottom of this worksheet). Note: Rounding is not required. a) Annual Market Rate 9% Semiannual Interest Payment: $17,500 PV of Face Amount: 133,500.01 +PV of Interest Payments: 285,055.55 Bond Selling Price: 418,555.56