Serotta Corporation is planning to issue bonds with a face value of $470,000 and a coupon rate of 12 percent The bonds mature in two years and pay interest quarterly every March 31. June 30. September 30 , and December 31 . All of the bonds were sold on January 1 of this year. Serotta uses the effective-interest amortization method and also uses a premium account. Assume an annual market rate of interest of 8 percent. (FV of \$1. PV of \$1. FVA of \$1, and PVA of \$1) Note: Use appropriate foctor(s) from the tables provided. 3. What bonds payable amount will Serotta report on this year's December 31 balance sheet? Note: Round your final answer to nearest whole dollor amount. Answer is complete but not entirely correct