QS 14-5A Computing bond price LO C2 Garcia Company issues 7.00%, 15-year bonds with a par value of $390,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 6.00%, which implies a selling price of 109 7/9. Confirm that the bonds' selling price is approximately correct. Use present value Table B.1 and Table B.3 in Appendix B. (Round all table values to 4 decimal places, and use the rounded table values in calculations. Round your other final answers to nearest whole dollar amount.) Par Value x Price 109 7/9 = = $ Selling Price $ 428,142 Present Value Table Value 390,000 Cash Flow $390,000 par (maturity) value $13,650 interest payment Price of Bond Difference due to rounding of table values