Fora 19:02 Required Information (The following information apples to the questions displayed below] PowerTap Utitles is planning to issue bonds with a face value of $3,000,000 and a coupon rate of 10 percent. The bonds mature in 10 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 12 percent (EV of $1 PV of $1, EVA of $1. and PVA of 5) (Use the appropriate factor(s) from the tables provided.) Required: 1. What was the issue price on January 1 of this year? (Round your final answers to nearest whole dollar amount.) Issue prices