Haste Enterprises issues 12-year, $1,000,000 bonds that pay semiannual interest of $50,000. If the effective annual rate of interest is 12%, what is the issue price of the bonds? Some relevant and irrelevant present value factors: *PV of ordinary annuity of $1: n=12; 1= 12% is 6.19437 *PV of $1 n= 12; 1= 12% is 0.25668 * PV of ordinary annuity of $1: n=24; 1= 6.0% is 12.55036 **PV of $1 n=24; 1= 6.0% is 0.24698 Multiple Choice $874,498. $939,498. $1,000,000. $1,627,518