Question: On December 3 1 , 2 0 2 5 , when the market interest rate is 8 % , Benson Realty issues $ 7 0

On December31,2025, when the market interest rate is 8%, Benson Realty issues $ 700 comma 000 of 5.25%,10-year bonds payable. The bonds pay interest semiannually. Determine the present value of the bonds at issuance. (Round all currency amounts to the nearest whole dollar.)

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