On January 1, 2010, Ellison Co. issued 8-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are as follows: Present value of one for eight periods at 6% .627 Present value of one for eight periods at 8% .540 Present value of one for 16 periods at 3% .623 Present value of one for 16 periods at 4% .534 Present value of annuity for eight periods at 6% 6.210 Present value of annuity for eight periods at 8% 5.747 Present value of annuity for 16 periods at 3% 12.561 Present value of annuity for 16 periods at 4% 11.652 The present value of the principal is A. $334,820 B. $349,560 C.$372,600 D. $376,830