Bond Issue:
On January 1, 20x8, Xeraz Corporation issued $1,000,000 5 year bond dated Jan 1, 20x8 with interest payable on July 1 and Jan 1.  The bonds had a face interest rate of 5%.  The effective interest rate in the market is 8%. The company fiscal year end is December 31, 2008.

question: Calculate the present value of the bond issue to determine its selling price

Here's some threads where I've answered the method of how to do these. Note that there's different ways of computing present values and I can't know which way you're supposed to do them. I did include a thread where I put the algebraic equations if you want them.

https://www.askmehelpdesk.com/finance-accounting/computing-bond-price-199941.html
https://www.askmehelpdesk.com/finance-accounting/issue-price-bond-181604.html
https://www.askmehelpdesk.com/accounting/how-do-you-compute-current-price-bonds-193231.html