Question: On January 1 , 2 0 2 2 , James Bond Inc. issued bonds with a par value of $ 5 0 0 , 0

On January 1,2022, James Bond Inc. issued bonds with a par

On January 1,2022, James Bond Inc. issued bonds with a par value of $500,000 that mature in 3 years. The interest on the bond is paid quarterly, on March 31, June 30, September 30, and December 31 of every year. The coupon rate is 5%. The market interest rate for similar bonds is 12%.
The present value of the bond is closest to?
1.$412,902.
2. $500,000.
3. $370,902.
4. $475,250.
value of $500,000 that mature in 3 years. The interest on the

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