Calculate the issue price of a $1,000,000, 8%, 10-year bond that pays interest semiannually, assuming the market rate is 10%. Use the time value factors below to help you complete your answer (you may have a small rounding error):

	Periods Rate =	4%	5%	8%	10%
Present Value of $1	10	0.67556	0.61391	0.46319	0.38554
	20	0.45639	0.37689	0.21455	0.14864
Present Value of Annuity	10	8.11090	7.72173	6.71008	6.14457
	20	13.59033	12.46221	9.81815	8.51356

A)	$875,378
B)	$877,106
C)	$1,000,000
D)	$872,311
E)	$878,129