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Marwick Corporation issues 10%, 5 year bonds with a par value of $1,020,000 and semiannual interest...

Marwick Corporation issues 10%, 5 year bonds with a par value of $1,020,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%. What is the bond's issue (selling) price, assuming the following Present Value factors: 1n= i= Present Value of an Annuity (series of payments) Present value of 1 (single sum) 5 10 % 3.7908 0.6209 10 5 % 7.7217 0.6139 5 8 % 3.9927 0.6806 10 4 % 8.1109 0.6756 Multiple Choice $1,102,768 $606,344 $809,244 $1,433,656 $1,020,000

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