Question: On October 1 , 2 0 2 3 , Ross Wind Energy Inc. issued a $ 1 , 7 0 0 , 0 0 0

On October 1,2023, Ross Wind Energy Inc. issued a $1,700,000,11.5%, seven-year bond. Interest is to be paid annually each October 1. Assume a November 30 year-end.
Calculate the issue price of the bond assuming a market interest rate of 10% on the date of the bond issue. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.)

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