When Patey Pontoons issued 6% bonds on January 1, 2016, with a face amount of$600,000, the market yield for bonds of similar risk and maturity was 7%. The bonds mature December 31, 2019 (4 years) Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1 FVAD of $1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Required 1. Determine the price of the bonds at January 1, 2016. Table values are based on: n= Cash Flow Interest Principal Amount Present Value Price of bonds