Chapter 10 instructions help Save & Exit Submit Questions 1-4 (of 1) P10-6 Recording and Reporting Bonds lssued at a Discount LO10-4 IThe following information apples to the questions displayed below) PowerTap Utilities is planning to issue bonds with a face value of S2,400,000 and a coupon rate of 6 percent. The bonds mature in 5 years and pay interest semiannually every June 30 and December 31 All of the bonds were sold on January 1 of this year. PowerTap uses the effective-interest amortization method. Assume an annual market rate of interest of 8 percen (FVLof $1, PV $1, FVA of S, and PVA of Use the appropriate factoris) from the tables provided Rot P10-6 Recording and Reporting Bonds lssued at a Section Break Discount L010-4 Required informati 9.09 points P10-6 Part 1 Required: 1. What was the issue price on January 1 of this year? (Round your final answer to whole dollars. Issue price