Big Corporation is planning to build a new factory costing $2,650,000. On January 1,2023 , Big plans to issue bonds in the amount of $2,600,000 that will be paid in ten years. Interest of $78,000 will be paid semiannually each January 1 and July 1 with the first interest payment at the end of the period on July 1, 2023. (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Future Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) Read the requirements. (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Present Value of an Ordinary Annuity table.) (Click the icon to view the Present Value of an Annuity Due table.) Requirement a. If the market rate of interest is 8%, will Big raise enough to build the factory? Begin by calculating the bond issue proceeds. (Use the present value and future value tables, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round intermediary currency computations and your final answer to the nearest cent, \$X.XX.) The bond issue proceeds are