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P$10-9($Algo$)$ Recording and Reporting Bonds Issued at a Premium LO$10-5$

$[$The following information applies to the questions displayed below.$]$

Cron Corporation is planning to issue bonds with a face value of $$740,000$ and a coupon rate of $13$ percent. The bonds

mature in five years and pay interest semiannually every June $30$ and December $31.$ All of the bonds were sold on January

$1$ of this year. Cron uses the effective$-$interest amortization method. Assume an annual market rate of interest of $12$ percent.

$($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.

P$10-9$ Part $4$

What is the book value of the bonds on June $30$ and December $31$ of this year?

Note: Round your final answers to nearest whole dollar amount.