Roman Destinations issues bonds due in 12 years with a stated interest rate of 6% and a face value of $440,000. Interest payments are made semi-annually. The market rate for this type of bond is 5%. Using present value tables, calculate the issue price of the bonds. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Multiple Choice

• $404,670.
• $258,218.
• $479,349.
• $440,000.