On January 1, Clabber Company issues bonds dated January 1 with a par value of $290,000. The bonds mature in 3 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 10%. Using the present value factors below, the issue (selling) price of the bonds is: Present Value of an Annuity (series of payments) 2.5313 5.1579 2.4869 5.0757 Present value of 1 (single sum) 0.7722 0.7679 0.7513 0.7462 3 6 3 6 9.08 4.58 10.08 5.08 Multiple Choice $290,000 $216,398 Next > 17 of 48 !!!