Rosh Corporation is planning to issue bonds with a face value of $830,000 and a coupon rate of 6 percent. The bonds mature in four years and pay interest semiannually every June 30 and December 31. All of the bonds will be sold on January 1 of this year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answers to whole dollars.)
Required:
Compute the issue (sale) price on January 1 of this year for each of the following independent cases:
c. Case C: Market interest rate (annual): 8 percent.