29) The face value is $82,000, the stated rate is 10%, and the term of the bond is eight years. The bond pays interest semiannually. At the time of issue, the market rate is 8%. What is the present value of the bond at the issue date? (Use present value tables provided)

Present value of $1:

	4%	5%	6%	7%	8%
15	0.555	0.481	0.417	0.362	0.315
16	0.534	0.458	0.394	0.339	0.292
17	0.513	0.436	0.371	0.317	0.270
18	0.494	0.416	0.350	0.296	0.250
19	0.475	0.396	0.331	0.277	0.232

Present value of ordinary annuity of $1:

	4%	5%	6%	7%	8%
15	11.118	10.380	9.712	9.108	8.559
16	11.652	10.838	10.106	9.447	8.851
17	12.166	11.274	10.477	9.763	9.122
18	12.659	11.690	10.828	10.059	9.372
19	13.134	12.085	11.158	10.336	9.604

		A) $91,561
		B) $47,773
		C) $43,673
		D) $84,788