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; i = 12% is 6.19437

**PV of $1: n = 12; i = 12% is 0.25668

* PV of ordinary annuity of $1: n = 24; i = 6.0% is 12.55036

**PV of $1: n = 24; i = 6.0% is 0.24698

A)$874,498.

B)$939,498.

C)$1,000,000.

D)$1,627,518.