The face value of a bond is $78,000, its stated rate is 7%, and the term of the bond is five years. The bond pays interest semiannually. At the time of issue, the market rate is 8%. Determine the present value of the bonds at issuance. Present value of $1: 4% 5 5% 0.822 0.784 6% 7% 0.747 0.713 8% 0.681 6 0.790 0.746 0.705 0.666 0.630 7 0.760 0.711 8 0.731 0.677 9 ment 10 0.676 0.614 0.558 0.508 0.665 0.623 0.583 0.627 0.582 0.540 0.703 0.645 0.592 0.544 0,500 0.463 Present value of annuity of $1 By Plan OA $74,871 timedia B. $22.143 Oc. $78,000 apter Re OD. $55,857 namic St