Marwick Corporation issues $8\%,5-$year bonds with a par value of $$1,150,000$ and semiannual interest payments. On the issue date, the annual market rate for these bonds is $6\%.$ What is the bond's issue $($selling$)$ price, assuming the following Present Value factors:

$\backslash$table$[[$number of periods $(n)=,$interest rate $(i)=,$esent Value an Annuity $($series of payments$),$Present value of $1($single sum$)],[5,8\%,3\mathrm{.}9927,0\mathrm{.}6806],[10,4\%,8\mathrm{.}1109,0\mathrm{.}6756],[5,6\%,4\mathrm{.}2124,0\mathrm{.}7473],[10,3\%,8\mathrm{.}5302,0\mathrm{.}7441]]$

Multiple Choice

$$1,542,389$

$$939,244$

$$1,150,000$

$$ $$1,248,104$