Pharoah Corporation issues $$460,000$ of $9\%$ bonds, due in $10$ years, with interest payable semiannually. At the time of issue, the market rate for such bonds is $10\%.$

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Compute the issue price of the bonds. $($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and the final answer to $0$ decimal places e$.$g$.58,971.)$

Issue price of the bonds