On July 1, 2020, Amor Company purchased 5-year bonds with face amount of P8,000,000 and stated interest of 10% per year payable semiannually on June 30 and December 31. The bonds were acquired to yield 8%. Present value factors are: Present value of an ordinary annuity of 1 for 10 periods at 5% 7.72 Present value of an ordinary annuity of 1 for 10 periods at 4% 8.11 Present value of 1 for 10 periods at 4% 0.6756 What is the purchase price of the bonds? 8,617,600 7,382,400 7,351,200 8,648,800