Required information The following information applies to the questions displayed below. Enviro Company issues 8%, 10-year bonds with a par value of $320,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87 12. Confirm that the bonds' selling price is approximately correct. Use present value Table 3.1 and Table 8.3 in Appendix B. (Round all table values to 4 decimal places, and use the rounded table values in calculations.) Selling Price Present Value Par Value * Price 87 1/2 Cash Flow Table Value $320,000 par (maturity) value $12.800 interest payment Price of Bond Difference due to rounding of table values