On January 1, 2017, Ellison Co. issued eight-year bonds with a face value of $3,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Using the present value tables below, calculate the issue price of the bonds? Do not round. Table values are:

Present of $1 (Single Sum)

Periods (n) 3% 4% 6% 8% 8 0.789 0.731 0.627 0.540 16 0.623 0.534 0.394 0.292

Present Value of an Ordinary Annuity of 1

Periods (n)	3%	4%	6%	8%
8	7.020	6.733	6.210	5.747
16	12.561	11.652	8.851	10.106

Place your final response first; then show your work and label your numbers, including but not limited to the correct (n) and (%) used for the tables.