Marwick Corporation issues 32%, 5 year bonds with a par value of $1,240,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 30%. What is the bond's issue (selling) price, assuming the Present Value of $1 factor for 15% and 10 semi-annual periods is 0.2472 and the Present Value of an Annuity factor for the same rate and period is 5.0188?

A. $1,240,000

B. $1,029,244

C. $2,235,730

D. $1,302,258

E. $244,270