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On January 1, 2019, Hank Company issued $5 million of 10-year bonds at a 10% coupon rate to be paid semi-annually. What is the selling

On January 1, 2019, Hank Company issued $5 million of 10-year bonds at a 10% coupon rate to be paid semi-annually. What is the selling price of the bond if the market rate of interest was 12%?

(FV of $1, PV of $1, FV of annuity, and PV of annuity) Use appropriate factor(s) from the tables provided (or your calculator, if that is your preferred method). Type your answer in the space provided below. Round to the nearest whole dollar.

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