On July 1, 20Y1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $2,700,000 of 10-year, 10% bonds at a market (effective) interest rate of 12%, receiving cash of $2,390,299. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year.

Compute the price of $2,390,299 received for the bonds by using the present value tables in Appendix A. Round your PV values to 5 decimal places and the final answers to the nearest dollar. Your total may vary slightly from the price given due to rounding differences.

Present Value of the Face Amount ____________

Present Value of the Semiannual Interst Payments __________

Price Reveived for the bonds ___________