(Appendix 9A) Bond Issue Price On January 1, Ruby Inc. issued 3,500 of $1,000 par value bonds with a stated rate of 8% and a 8-year maturity. Interest is payable semiannually on June 30 and December 31. Use Future Value of a Single Amount, Present Value of a Single Amount, Future Value of an Annuity and Present Value of an Annuity. Required: What is the issue price if the bonds are sold to yield 10%? Round factors to five decimal places and final answer to the nearest dollar. Feedback Check My Work Bonds are priced at the present value of the two future cash flows, periodic interest payments, and repayment of the principal.