On May 1, 2020, PWK Ltd. issued a series of bonds in order to raise money for some upcoming projects. The bonds had a face value of $5,054,000 and matured in 10 years. Interest was payable at a face rate of 6% each April 30 and October 31 . The bonds were issued to yield 7.00%. 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. (ab) Using 1. factor Tables 2. a financial calculator, or 3. Excel function PV, calculate the issue price of the bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places e.g. 58,971.) Issue price \$
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