Present value of bonds payable; discount Pinder Co, produces and sells high-quality video equipment. To finanice its operations, Pinder issued 525,000,000 of 5 -yea, 7% bonds, with interest payable semiannually, at a market (effective) interest rate of 9%. 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 $1 at Compound Interest Exhibit 7 Present Value of an Annuity of $1 at Compound interest