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On January 1, Eltix, Inc. issued a 20-year quarterly bond with a face value of $1,650,000 that pays 3.5% interest. On the date of issue,

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On January 1, Eltix, Inc. issued a 20-year quarterly bond with a face value of $1,650,000 that pays 3.5% interest. On the date of issue, the market for similar bonds was 6.0%. How much was Eltix able to raise from issuing this bond? For numerical entries, please 1. do NOT enter commas 2. do NOT enter the dollar symbol: $ 3. DO enter the percent symbol when it is needed: % 4. enter dollar amounts to the nearest cent, for example: 12345.67

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