Pronghorn Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction

of a new plant to meet the increasing demand for the company's bikes. After a careful evaluation of the request, the board of directors

has decided to raise funds for the new plant by issuing $$3,258,500$ of $8\%$ term corporate bonds on March $1,2025,$ due on March $1,$

$2040,$ with interest payable each March $1$ and September $1.$ At the time of issuance, the market interest rate for similar financial

instruments is $6\%.$

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As the controller of the company, determine the selling price of the bonds. $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final

answer to $0$ decimal places, e$.$g$.458,581.)$

Selling price of the bonds $

eTextbook and MediaPronghorn Inc. manufactures cycling equipment. Recently, the vice president of operations of the

company has requested construction of a new plant to meet the increasing demand for the

company$$s bikes. After a careful evaluation of the request, the board of directors has decided to

raise funds for the new plant by issuing $$3,258,500$ of $8\%$ term corporate bonds on March $1,$

$2025,$ due on March $1,2040,$ with interest payable each March $1$ and September $1.$ At the time of

issuance, the market interest rate for similar financial instruments is $6\%.$

Click here to view factor tables.

As the controller of the company, determine the selling price of the bonds. $($Round factor valuesto $5$

decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.)$

Selling price of the bonds $