Buchanan Corporation issues $500,000 of 11% bonds that are due in 10 years and pay interest semi-annually. At the time of issue, the market rate for such bonds is 10%. Calculate the bonds' issue price by using 

(1) Factor Tables A.2 and A.4, 

(2) A financial calculator, or 

(3) Excel function PV. Round to the nearest dollar.

Table A.2

Table A.4

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PVF = (1+i)* (1+i) (n) periods 2% 2% 3% 4% 5% 6% 8% 9% 10% 11% 12% 15% 89286 79719 98039 97561 97087 96156 95238 94340 92593 91743 90909 .90090 86957 96117 94232 92385 90583 95181 81162 73119 65873 59345 2 94260 92456 90703 89000 85734 84168 82645 75614 83962 79209 74726 75132 68301 62092 92860 91514 B8900 86384 79383 77218 71178 65752 90595 88385 88849 86261 85480 82193 82270 78353 73503 68058 70843 64993 63552 56743 57175 49718 4 86230 83748 81309 88797 79031 74622 70496 63017 59627 56447 53464 50663 43233 75992 73069 70259 67556 66506 58349 54027 50025 A6319 54703 50187 46043 87056 84127 71068 51316 48166 45235 37594 82075 80073 78120 43393 39092 35218 40388 36061 32197 85349 78941 67684 62741 A6651 32690 83676 82035 76642 74409 59190 55839 28426 24719 6. 64461 A2410 10 61391 42241 38554 72242 70138 68095 66112 64186 64958 .62460 60057 57748 55526 38753 35554 11 80426 76214 58468 52679 42888 35049 31863 31728 28748 21494 49697 39711 36770 28584 25751 12 78849 74356 55684 25668 18691 13 77303 75788 74301 72542 53032 46884 32618 28966 22917 16253 70773 69047 50507 48102 44230 41727 29925 27454 26333 23939 20462 18270 14133 .12289 14 34046 23199 15 31524 20900 10687 09293 08081 07027 06110 29189 16 17 72845 67362 62317 53391 45811 39365 37136 25187 21763 19785 .18829 16963 15282 .13768 12403 16312 71416 70016 .51337 14564 13004 11611 10367 65720 60502 43630 27027 23107 41552 39573 37689 35034 33051 31180 17986 16351 14864 18 64117 58739 49363 25025 21199 19 20 62553 61027 57029 55368 47464 45639 68643 23171 19449 67297 21455 17843 21 65978 59539 53755 43883 35894 29416 19866 16370 13513 .11174 09256 05313 18394 17032 15770 14602 52189 27751 26180 24698 23300 22 64684 58O86 42196 34185 15018 12285 10067 08264 04620 63416 62172 60953 13778 .11168 10153 09230 09069 08170 07361 07379 06588 05882 23 56670 50669 40573 32557 04017 55288 53939 49193 47761 39012 37512 31007 29530 24 12641 03493 25 11597 03038 52623 51340 50088 26 59758 46369 36069 28124 21981 13520 08391 10639 .09761 08955 .06631 05252 02642 02297 58586 57437 34682 33348 32065 30832 26785 20737 19563 18456 17411 27 45019 12519 07628 .05974 04689 43708 42435 41199 28 25509 11591 06934 05382 04187 01997 29 30 24295 23138 10733 09938 .03738 03338 01737 01510 56311 A8866 08216 06304 04849 .55207 A7674 07537 05731 .04368 A6511 45377 03935 .03545 22036 16425 15496 31 09202 .02980 54125 53063 52023 51003 50003 39999 29646 06915 05210 04736 01313 01142 28506 27409 32 38834 20987 08520 .06344 .02661 02376 .02121 01894 33 44270 37703 19987 14619 07889 05820 04306 03194 00993 36604 35538 26355 25342 19035 18129 13791 13011 07305 06763 05340 .04899 34 43191 03914 02878 00864 35 42137 03558 .02592 00751 24367 23430 22529 21662 20829 12274 11579 36 00653 49022 48061 41109 34503 17266 06262 04494 03235 02335 01691 A0107 39128 33498 .04123 .03783 03470 .03184 37 16444 05799 02941 .02104 01510 00568 00494 .00429 .00373 38 47119 32523 15661 10924 05369 02674 01896 01348 46195 45289 31575 30656 .10306 09722 04971 04603 02430 02210 01708 .01538 01204 01075 39 38174 14915 40 37243 14205