On January 1, 2018, Ellison Co. issued 2-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 7%. The present value of the principalis a. $838,561. b. $854,804 1. c. $871,442 d. SNone. 2. The present value of the interest is a $344,820. b. $107,826. C: $108,897 d None The issue price of the bonds is $981.635. earch BI SONY