Present value bonds payable; premium Moss co. Issued $510,000 of four-year 13% bonds, with interest payable semi annually, at a market (effective) interest rate of 11%.

Determine the present value of the bonds payable, using the present value tables in Exhibit 5, and Exhibit 7. Round to the nearest dollar.

Exhibit 5 Present Value of 31 at Compound Interest Exhibit 7 Present Value of an Annuity of $1 at Compound Interest