On January 1,a company issues bonds dated January 1 with a par value of $200,000.The bonds mature in 3 years.The contract rate is 4%,and interest is paid semiannually on June 30 and December 31.The market rate is 5%.Using the present value factors below,the issue (selling) price of the bonds is: 
Definitions:
Parallelism
The condition or quality of being parallel; in mechanical engineering, it refers to surfaces or axes that remain the same distance apart and never meet.
Datum Plane
An imaginary flat surface used as a reference for measuring and constructing geometries in design and manufacturing.
Orientation Tolerances
Limits on the allowable deviation in the position of features on a part relative to its specified orientation.
Angularity
The condition of a surface, axis, or center plane being specified at an angle to a datum plane or axis.
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