On February $1,2021$ Red Bull Company purchased $5-$year bonds with face value of $P2,000,000$ and

stated interest of $12\%$ per year payable annually every January $1.$ The bonds were acquired to yield

$10\%.$ The relevant present value factor is as follows:

How much was the total amount paid to purchase the bonds?

a$.2,149,600$

b$.2,169,600$

c$.2,004,000$

d$.2,024,000$

The correct answer is Letter B $2,169,600.$

Please provide the solution showing the correct answers above.