Multiple Choice Question 60 On January 1, 2017, Swifty Corporation issued eight-year bonds with a face value of $6050000 and a stated interest rate of 8%, payable semiannually on June 30 and December 31 The bonds were sold to yield 10%. Table values are: Present value of 1 for 8 periods at 8% Present value of 1 for 8 periods at 10% Present value of 1 for 16 periods at 4% Present value of 1 for 16 periods at 5% Present value of annuity for 8 periods at 8% Present value of annuity for 8 periods at 10% Present value of annuity for 16 periods at 4% Present value of annuity for 16 periods at 596 0.540 0.467 0.534 0.458 5.747 5.335 11.652 10.838 The present value of the principal is O $2770900 O $2825350 $3267000 O $3230700