On May $1,2020,$ TTD Ltd$.$ issued a series of bonds in order to raise money for some upcoming projects. The bonds had a face value of $$5,160,000$ and matured in $10$ years. Interest was payable at a face rate of $6\%$ each April $30$ and October $31.$ The bonds were issued to yield $8\mathrm{.}00\%.$

Click here to view the factor table PRESENT VALUE OF $1.$

Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF $1.$

$($a$-$b$)$

Using $1.$ factor Tables $2.$ a financial calculator, or $3.$ Excel function PV$,$ calculate the issue price of the bonds. $($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to O decimal places e$.$g$.58,971.)$