Company issues 5%, 5-year bonds with a par value of $1,000,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 6%. What is the bond's issue (selling) price, assuming the following factors:

n=		i=				Present Value of an Annuity				Present value of $1
5		5	%					4.3295			0.7835
10		3	%					8.7521			0.7812
5		6	%					4.2124			0.7473
10		3	%					8.5302			0.7441

A) $957,355

B) $1,000,000

C) $1,250,000

D) $786,745

E) $1,213,255