Question: National Motors Corporation is planning to issue bonds with a face value of $256,500 and a coupon rate of 5 percent. The bonds mature

National Motors Corporation is planning to issue bonds with a face value

National Motors Corporation is planning to issue bonds with a face value of $256,500 and a coupon rate of 5 percent. The bonds mature in 7 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. (EV of $1. PV of $1. FVA of $1, and PVA of $1) Note: Use appropriate factor(s) from the tables provided. Round your final answer to whole dollars. Determine the issuance price of the bonds assuming an annual market rate of interest of 7.5 percent. Answer is complete but not entirely correct. Issue price $ 229,033

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