Sarasota Inc manufactures cycling equipment. Recently, the vice president of operations of the company has requested 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 $3,454,800 of 11% term corporate bonds on March 1, 2020, due on March 1 , 2035, with interest payable each March 1 and September 1, with the first interest payment on September 1 st, 2020 . At the time of issuance, the market interest rate for similar financial instruments is 10%G Click here to view factor tables As the controller of the company, determine the selling price of the bonds. (Round foctor volues to 5 decimal places es. 1.25124 ond finar answer to O decimal places, es. 458,581) Selling price of the bonds