Thompson Corporation is planning to issue $130,000, five-year, 6 percent bonds. Interest is payable semi-annually each June 30 and December 31. All of the bonds will be sold on July 1, 2017; they mature on June 30, 2022.

Required:Compute the issue (sale) price on July 1, 2017, if the yield is: (Round time value factor to 4 decimal places. Round the final answers to the nearest dollar amount.)

a. 6%

b. 5%

c.7%