d. no necessary relationship exists between the two rates. Use the following information for questions 4 through 6: On January 1, 2010, Ellison Co. issued eight-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: Present value of 1 for 8 periods at 6% Present value of 1 for 8 periods at 8% Present value of 1 for 16 periods at 3% Present value of 1 for 16 periods at 4% Present value of annuity for 8 periods at 6% Present value of annuity for 8 periods at 8% Present value of annuity for 16 periods at 3% Present value of annuity for 16 periods at 4% The present value of the principal is a. b. $534,000. .627 .540 .623 .534 6.210 5.747 12.561 11.652 $540,000. C. $623,000. d. $627,000. The present value of the interest is $344,820. a. b. $349,560. C. $372,600. d. $376,830. 12