Present value of bonds payable; premium

Moss Co$.$ issued $$480,000$ of five$-$year, $12\%$ bonds, with interest payable semiannually, 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.

$Moss Co$.$ issued $$480,000$ of five$-$year, $12\%$ bonds, with interest payable semiannually, at a market $($effective$)$ interest rate of $11\%.$