4) On January 1, 2019, Jason Company issued $5 million of 10-year bonds at a 10% coupon interest rate to be paid annually. The following present value factors have been provided:

Time PeriodInterestPV of $1PV of a $1 Annuity1010%0.3866.140108%0.4636.7101012%0.3225.650

Calculate the issuance price if the market rate of interest was 10%. A) $5,427,000. B) $4,477,000. C) $4,435,000. D) $5,000,000.