Ivanhoe Company is about to issue $110,000 of 7-year bonds that pay a 8.0% annual...
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Ivanhoe Company is about to issue $110,000 of 7-year bonds that pay a 8.0% annual interest rate, with interest payable semi-annually. The market interest rate is 4%. How much can Ivanhoe expect to receive for the sale of these bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 2 decimal places, e.g. 5,275.25.)
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