On December 31st, the Company issues 4.5% bonds at face value of $500,000. The bonds pay interest semi-annually on June 30th and December 31st each year. The first payment is due on June 30, 2022. The bonds mature in 10 years. The market yield on the issuance date is 4.75%. Rounded to the nearest dollar. I need a brief description of how this transaction would be written out.