Greene, Inc. issues $1 million of its 5%, 10-year bonds on Jan 1, 2021 when the market rate for similar bonds is 6%. The bonds pay interest semi-annually. On Jan 1, 2024, the market rate for bonds dropped to 2%, prompting Greene to consider buying back its current bond issue and re-issuing the $1 million in bonds with a stated rate of 3%. The new bonds will pay interest semi-annually and will retain the same maturity date as the original bond issue. Fill in the blanks in the table below to calculate the proceeds from the new issue. Rate Number of periods Payment Future value Proceeds from issue