Haste Enterprises issues 10-year, $1,000,000 bonds that pay semiannual interest of $40,000. If the effective annual rate of interest is 10%, what is the issue price of the bonds? Some relevant and irrelevant present value factors: * PV of ordinary annuity of $1: n = 10; i = 10% is 6.14457 **PV of $1: n = 10; i = 10% is 0.38554 * PV of ordinary annuity of $1: n = 20; i = 5.0% is 12.46221 **PV of $1: n = 20; i = 5.0% is 0.37689 Multiple Choice $930,378. $1,498,488. O $875,378. O $1,000,000