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Sunland Corporation issues $ 6 0 0 , 0 0 0 of 9 % bonds that are due in 9 years and pay interest semi

Sunland Corporation issues $600,000 of 9% bonds that are due in 9 years and pay interest semi-annually. At the time of issue, the
market rate for such bonds is 8%.
Click here to view the factor table PRESENT VALUE OF 1.
Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1.
Calculate the bonds' issue price by (1) using the factor tables provided (2) a financial calculator, or (3) Excel function PV.
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