On January 1, 2020, Ellison Co. issued eight-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 8%. Table values are:

Present value of 1 for 8 periods at 6%.......................................... .627

Present value of 1 for 8 periods at 8%.......................................... .540

Present value of 1 for 16 periods at 3%........................................ .623

Present value of 1 for 16 periods at 4%........................................ .534

Present value of annuity for 8 periods at 6%................................ 6.210

Present value of annuity for 8 periods at 8%................................ 5.747

Present value of annuity for 16 periods at 3%.............................. 12.561

Present value of annuity for 16 periods at 4%.............................. 11.652

1. The present value of the principal is

2. The present value of the interest is

3. The issue price of the bonds is