Question 12 Monty Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has rested 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 $3,454,600 of 10% term corporate bonds on March 1, 2020, due on March 1, 2005, with interest payable each March 1 and September 1, with the fost interest payment on September 1, 2020. At the time of man, the market interest rate for similar financial instruments Gidheads As the controller of the company, determine the selling price of the bonds (Hound factor values to decimal places 1.2124 and final answer to decimal cel. 45,581.) Selling price of the bonds