7. On January 1, 2017, Haley Co. issued ten-year bonds with a face amount of $5,000,000 and a stated interest rate of 8% payable annually on January 1 . The bonds were priced to yield 10%. Present value factors are as follows: Present value of 1 for 10 periods Present value of an ordinary annuity of 1 for 10 periods 0.463 6.710 0.386 6.145 The total issue price of the bonds was a. $5,000,000. b. $4,900,000. c. $4,600,000. d. $4,388,000