On January 1, 2017, Zootopia company issued eight-year bonds with a face value of P2,000,000 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: Present value of 1 for 8 periods at 6% 0.627 Present value of 1 for 8 periods at 8% 0.540 Present value of 1 for 10 periods at 3% 0.623 Present value of 1 for 10 periods at 4% 0.534 Present value of annuity of 1 for 8 periods at 6% Present value of annuity of 1 for 8 periods at 8% Present value of annuity of 1 for 10 periods at 3% Present value of annuity of 1 for 10 periods at 4% The present value of the bonds payable is 6.210 5.747 12.561 11.652