on january 1 of the current year, REBCO issued 10-year, 9% bonds with a maturity amount of $1 million. The bonds were issued to yield 7%, with interest paid annually on January 1 of each year. The following table presents relevant time-value-of-money interest factors: Present value of an ordinary annuity of $1 at 7% for 10 years 7.024 Present value of an ordinary annuity of $1 at 9% for 10 years 6.418 Present value of $1 at 7% for 10 years 0.508 Present value of $1 at 9% for 10 years 0.422 The amount of proceeds received from the bond issue was a. $1,000,000 b. $1,140,160 c. $1,085,620 d. $1,054,160