Patterson Company issued 30-year bonds on June 30. The face value of the bonds is $\$ 750,000$. The stated interest rate on the bonds is 6 percent. The market rate of interest at the time of issuance was 4 percent. Patterson also issued another set of bonds on August 31. These bonds were 20 -year bonds and had a face value of $\$ 556,000$. The stated rate of interest on these bonds was 5 percent. The market rate of interest at the time these bonds were issued was 8 percent. Both sets of bonds pay interest semiannually.

Required:

Calculate the issuance price of these bonds.