Skysong Inc. manufactures cycling cquipment. Recently, the: company/s vice president of operations has requested construction of a new plant to meet the increasing demand for the companys bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $2,250,000 of 9% term corporate bonds on March 1, 2023, due on March 1, 2037. with interest payable each March 1 and September 1 . At the time of issuance, the market interest rate for similar funancial instruments is 8%. (a) As Skysong's contreller, determine the selling price of the bonds. (Round present value factor calculations to 5 decimal ploces, es. 1.25124 and final answer to 0 decimal places, es. 5,275.) Click here to view the factor table PRESENT VAU UE OF 1 Click here to view the factor table: PRESENT VALUE OF AN ANNUITY or 1. Selling price of the bonds