731 On January 1, 2020, Cotton Corp. issued eight-year, 3% bonds with a face value of $600,000, with interest payable semi-annually on June 30 and December 31. The bonds were sold to yield 4% Table values are: Present value of 1 for 8 periods at 3% .789 Present value of 1 for 8 periods at 4% Present value of 1 for 16 periods at 1.5% .788 Present value of 1 for 16 periods at 2% 728 Present value of annuity for 8 periods at 3% Present value of annuity for 8 periods at 2% 7.325 Present value of annuity for 16 periods at 1.5% 14.131 Present value of annuity for 16 periods at 2% 13.578 7020 The issue price of the bonds is Present value of 1 for 16 periods at 1.5% .788 Present value of 1 for 16 periods at 2% .728 Present value of annuity for 8 periods at 3% 7.020 Present value of annuity for 8 periods at 2% 7.325 Present value of annuity for 16 periods at 1.5% 14.131 Present value of annuity for 16 periods at 2% 13.578 The issue price of the bonds is O $559,002 O $599,760. O $599,979. O $570,450