Crane Company issues $5040000, 7%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 6%. What are the proceeds from the bond issue?

ff	3.0%	3.5%	6%	7%
Present value of a single sum for 5 periods	0.86261	0.84197	0.74726	0.71299
Present value of a single sum for 10 periods	0.74409	0.70892	0.55839	0.50835
Present value of an annuity for 5 periods	4.57971	4.51505	4.21236	4.10020
Present value of an annuity for 10 periods	8.53020	8.31661	7.36009	7.02358

$5040000

$5254941

$5253441

$5252626