QUESTION $3$

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 $31,$ Jun $30,$ 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$?$

$$370,902.$

$$412,902.$

$$500,000.$

$$475,250.$