Downing Company issues 5,000,000,6%,5-year bonds dated January 1, 2022 on January 1,2022 . The bonds pay interest semiannually on June 30 and December 31 . The bonds are issued to yield 5%. What are the proceeds from the bond issue? Present value of a single sum for 10 periods is 0.781203966000 Present value of an annuity for 10 periods is 8.752061312809+ \begin{tabular}{l|l} 5,000,000 & 5,216,494 \\ 5,218,809 & 5,217,308 \end{tabular}