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On January 1 , 2 0 2 4 , Cullumber Co . issued eight - year bonds with a face value of $ 6 0

On January 1,2024, Cullumber Co. issued eight-year bonds with a face value of $6040000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are:
Present value of 1 for 8 periods at 10%
0.46651
Present value of 1 for 8 periods at 12%
0.40388
Present value of 1 for 16 periods at 5%
0.45811
Present value of 1 for 16 periods at 6%
0.39365
Present value of annuity for 8 periods at 10%
5.33493
Present value of annuity for 8 periods at 12%
4.96764
Present value of annuity for 16 periods at 5%
10.83777
Present value of annuity for 16 periods at 6%
10.10590
The issue price of the bonds is
$5429628.
$5439890.
$6040050.
$6040018.
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