Use the following tables to calculate the present value of a $581,000 6 5%, 6-year bond that pays $29,050 interest annually, if the market rate of interest is 6%. Round to the nearest dollar, Present Value of $1 Present Value of Annuity of $1 Periods 5 % 6% 7% 596 69% 7% 10 % 10 % Periods 90909 1 1 .95238 .94340 .93458 95238 94340 93458 .90909 2 .90703 .89000 .87344 .82645 2 1.85941 1.83339 1.80802 1.73554 2 3 3 .86384 .83962 81630 75131 2.72325 2.67301 2.62432 2.48685 4 82270 .79209 .76290 68301 4 3.54595 3.46511 3.38721 3.16987 5 .78353 .74726 71299 .62092 5 4.32948 4.21236 4.10020 3.79079 6 .74622 .70496 .66634 .56447 6 5.07569 4.91732 4.76654 4.35526 7 .71068 .66506 .62275 .51316 7 5.78637 5.58238 5.38929 4.86842 8 67684 .62741 58201 .46651 8 6.46321 6.20979 5.97130 5.33493 .64461 59190 54393 42410 9 7210782 6.51523 5.75902 6.80169 7/36009 10 .61391 .55839 50335 38554 10 7.72173 7:02358 6.14457