Spiller Corporation plans to issue $10\%,15-$year, $$500,000$ par value bonds payable that pay interest semiannually on June $30$ and December $31.$ The bonds are dated January $1$ of the current year and are issued on that date. $($PV of $$1,FV$ of $$1,$ PVA of $$1,$ and FVA of $$1)($Use appropriate factor$($s$)$ from the tables provided. Round your "Table value" to $4$ decimal places.$)$

If the market rate of interest for the bonds is $8\%$ on the date of issue, what will be the total cash proceeds from the bond issue?

Answer is complete but not entirely correct.