On January 1, 2020, Waterway Industries issued eight-year bonds with a face value of $6020000 and a stated interest rate of 4%, 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 4% Present value of 1 for 8 periods at 6% Present value of 1 for 16 periods at 2% Present value of 1 for 16 periods at 3% Present value of annuity for a periods at 4% Present value of annuity for 8 periods at 6% Present value of annuity for 16 periods at 2% Present value of annuity for 16 periods at 3% 0.731 0.627 0.228 0.623 6.733 6.210 13.578 12.561 The present value of the principal is $3750460 $3774540 $4382560 $4400620