On January 1, 2020, Ellison Co. issued eight-year bonds with a face value of $3,000,000 and a stated interest rate of 8%, payable semiannually on June 30 and December 31. The bonds were sold to yield 6%. Table values are: Present value of 1 for 8 periods at 6%. Present value of 1 for 8 periods at 8%. Present value of 1 for 16 periods at 3%. Present value of 1 for 16 periods at 4%. Present value of annuity for 8 periods at 6%. Present value of annuity for 8 periods at 8%. Present value of annuity for 16 periods at 3%. Present value of annuity for 16 periods at 4%. Calculate price of these bonds. .627 .540 .623 .534 6.210 5.747 12.561 11.652