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Required information Murry Corp, issued a five-year, $1,000, 8% (stated interest rate) bond on January 1, 2020 when the market rate of interest was 9%.

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Required information Murry Corp, issued a five-year, $1,000, 8% (stated interest rate) bond on January 1, 2020 when the market rate of interest was 9%. The bond pays annual interest each December 31 Table 1: Future Value of $1 n 8% 9% 5 1469328 1.538624 Table III: Future Value of an Annuity of $1 n 8% 9% 5 5.866601 5.984711 Table 11: Present Value of $1 n 8% 9% 5 0.680583 0.649931 Table IV: Present Value of an Annuity of $1 n 8% 9% 5 3.992710 3.889651 Pretend that the correct responses to Parts A and B are the following: Part A $611, present value of repayment of the face value at maturity, Part B, $350, present value of the five cash interest payments. Compute the issue price of the bond (round to the nearest whole dollar)

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