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On January 1, 2020, Sunland Company issued eight-year bonds with a face value of $6500000 and a stated interest rate of 6%, payable semiannually on

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On January 1, 2020, Sunland Company issued eight-year bonds with a face value of $6500000 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: 0.627 0.540 0.623 0.534 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% 6.210 5.747 12.561 11.652 The issue price of the bonds is $5743140. $5751330. $5782140. $6497400

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