View Policies Current Attempt in Progress Cheyenne Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the company's bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $ 3,128,500 of 12% term corporate bonds on March 1, 2020, due on March 1. 2035, with interest payable each March 1 and September 1, with the first interest payment on September 1st, 2020. At the time of Issuance, the market interest rate for similar financial instruments is 8% Click here to view factor tables As the controller of the company, determine the selling price of the bonds. (Round factor values to 5 decimal places, es. 1 25124 and final answer to decimal places, eg. 458,581) Selling price of the bonds