Required information P10-9 (Algo) Recording and Reporting Bonds Issued at a Premium LO10-5 [The following information applies to the questions displayed below.) Cron Corporation is planning to issue bonds with a face value of $730,000 and a coupon rate of 13 percent. The bonds mature in five years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Cron uses the effective-interest amortization method. Assume an annual market rate of interest of 12 percent. (FV of $1, PV of $1, EVA of $1, and PVA of $1) Note: Use appropriate factor(s) from the tables provided. P10-9 Part 1 Required: 1. What was the issue price on January 1 of this year? Note: Round your final answer to nearest whole dollar amount. Issue price