Sandhill Corporation issues $$440,000$ of $10\%$ bonds that are due in $8$ years and pay interest semi$-$annually. At the time of issue, the

market rate for such bonds is $8\%.$

Click here to view the factor table PRESENT VALUE OF $1.$

Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF $1.$

Calculate the bonds' issue price by $(1)$ using the factor tables provided $(2)$ a financial calculator, or $(3)$ Excel function PV$.($Hint: Refer to

Chapter $3$ for tips on calculating.$)($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal

places e$.$g$.58,971.)$

Issue price of bond