Question - The following terms relate to independent bond issues:
1. 410 bonds; $1,000 face value; 8% stated rate; 5 years; annual interest payments
2. 410 bonds; $1,000 face value; 8% stated rate; 5 years; semiannual interest payments
3. 850 bonds; $1,000 face value; 8% stated rate; 10 years; semiannual interest payments
4. 1,860 bonds; $500 face value; 12% stated rate; 15 years; semiannual interest payments
Required: Assuming the market rate of interest is 10%, calculate the selling price for each bond issue. Refer to the tables above for present value factors. If required, do not round intermediate calculations and round all final answers to the nearest dollar.