On January $1$ of this year, Nowell Company issued bonds with a face value of $$250,000$ and a coupon rate of $8\mathrm{.}0$ percent. The bonds mature in five years and pay interest semiannually every June $30$ and December $31.$ When the bonds were sold, the annual market rate of interest was $8\mathrm{.}0$ percent.

 

Required:

$1.$What was the issue price on January $1$ of this year?

Note: Round your intermediate calculations and final answer to nearest whole dollar amount.