When the market rate of interest was 12%, Halprin Corporation issued $638,000, 11%, four-year bonds that pay interest annually. The selling price of this bond issue was Present Value of $1 at Compound Interest Use the following table, if needed. Periods 5% 1 0.95238 2 0.90703 6% 0.94340 0.89000 7% 10% 12% 0.93458 0.90909 0.87344 0.89286 0.82645 0.79719 3 0.86384 0.83962 0.81630 0.75132 0.71178 4 0.82270 0.79209 0.76290 5 0.78353 0.74726 6 0.74622 0.70496 0.71299 0.66634 7 0.71068 0.66506 8 0.67684 0.62741 9 10 0.64461 0.61391 0.59190 0.55840 0.50835 0.62275 0.51316 0.58201 0.54393 0.42410 0.38554 0.68301 0.62092 0.56743 0.56447 0.50663 0.45235 0.63552 0.46651 0.40388 0.36061 0.32197 Present Value of an Annuity of $1 at Compound Interest Periods 5% 6% 7% 10% 12% 1 0.95238 0.94340 0.93458 0.90909 0.89286 2 1.85941 1.83339 1.80802 1.73554 1.69005 2.72325 2.67301 2.62432 2.48685 2.40183 3.54595 3.46511 3.38721 3.16987 3.03735 5 4.32948 4.21236 4.10020 3.79079 3.60478 6 5.07569 4.91732 4.76654 4.35526 4.11141 7 5.78637 5.58238 5.38929 4.86842 4.56376 8 6.46321 6.20979 5.97130 5.33493 4.96764 9 10 7.10782 7.72173 6.80169 6.51523 5.75902 5.32825 7.36009 7.02358 6.14457 5.65022 Oa. $618,623 Ob. $620,887 Oc. $860,280 Od. $1,026,349