the issue price of the debt is?

On January 1, 2018, Manderson Technology, Incorporated issued $830,000 of $1,000 par value, 7%, 6-year bonds. Interest is payable semiannually each January 1 and July 1 with the first interest payment due at the end of the period on July 1, 2018. The market rate of interest for similar non-convertible bonds on the date of the bond issue was 10%. However, because these bonds are convertible, the effective rate is 8%. Each bond is convertible into 40 shares of Manderson Technology's $5 par value common stock. Assume there is no beneficial conversion option. (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Future Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) 2 (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Present Value of an Ordinary Annuity table.) 2 (Click the icon to view the Present Value of an Annuity Due table.) Read the requirements. Requirement a. Determine the issue price of the debt. (Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round your final answers to the nearest whole dollar.) The issue price of the debt is $