21

Carter Farms focated in Georgia produces 30% of the country's peanut Cartet Farms issued bonds on January 1, 2021 to raise capital. The bonds were for $5 million 10 years, 10% with interest paid annually. The following present value factors have been provided For $1 Time Period Interest py of $1 Annuity 10% 6386 16140 10 0.463 5710 ho 12% 6322 5.650 10 88 If at the time of the issuance, if the market rate of interest was 8% what was the amount of the price for the bonds? Fil in the blank. Omits sign. Fill in the blank