Q$2$: When Patey Pontoons issued $6\%$ bonds on January $1,2024,$ with a face amount of $$600,000,$ the market yield for bonds of similar risk and maturity was $7\%.$ The bonds mature December $31,2027(4$ years$).$ Interest is paid semiannually on June $30$ and December $31.$

Required $1$: Determine the price of the bonds at January $1,2024.$