On January 1,2021 , Bonita Ltd. issued bonds with a maturity value of $5.20 million for $4,999,280, when the market rate of interest was 10%. The bonds have a contractual interest rate of 9% and mature on January 1,2026 . Interest on the bonds is payable semiannually on July 1 and January 1 of each year. On January 1, 2021, Ivanhoe Company, a public company, purchased Bonita Ltd. bonds with a maturity value of \$1.04 million to earn interest. On December 31, 2021, the bonds were trading at 99 . Both companies' year end is December 31. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) X Your answer is incorrect. What amount did Ivanhoe Company pay for Bonita Ltd.'s bonds? (Round answer to 0 decimal places, e.g. 5,275.) Ivanhoe Company paid \$ eTextbook and Media