On January 1, 2019, Broker Corp. issued $3,600,000 par value 11%, 11-year bonds which pay interest each December 31. If the market rate of interest was 13%, what was the issue price of the bonds? (The present value factor for $1 in 11 periods at 11% is 0.3173 and at 13% is 0.2607. The present value of an annuity of $1 factor for 11 periods at 11% is 6.2065 and at 13% is 5.6869.) Multiple Choice $3,190,532 $3,394,249. $3,600,000. $4,046.869