On January 1,2020, Oliver Company issued $4 million of 10 year bonds at an 8% stated interest rate to be paid annually. Oliver Company issued the bonds for $3,501,514 since the market rate of interest was 10%. What is the carrying value of the bond that Oliver Company would report on its December 31,2020 balance sheet? (round to the nearest dollar) $3,531,665 $3,500,000 $3,526,438 $3,516,590 $4,000,000