Pronghorn Co$.$ is building a new hockey arena at a cost of $$2,620,000.$ It received a downpaymerit of $$480,000$ from local businesses

to support the project, and now needs to borrow $$2,140,000$ to complete the project. III therefore decides to issue

$$2,140,000$ of $12\mathrm{.}0\%,10-$year bonds. These bonds were issued on January $1,2024,$ arid pay interest annually ori each January $1.$ The

bonds yield $11$