Required information Problem 7-34 (Algo) Bonds payable-calculate issue price and amortize premium LO 7-8 [The following information applies to the questions displayed below.] On January 1, 2022, Learned, Incorporated, issued $12 million face amount of 20- year, 14% stated rate bonds when market interest rates were 16%. The bonds pay interest semiannually each June 30 and December 31 and mature on December 31, 2041. Table 6-4, Table 6-5 Note: Use appropriate factor from the table provided. Problem 7-34 (Algo) Part a Required: a. Calculate the proceeds (issue price) of Learned Incorporated's, bonds on January 1, 2022, assuming that the bonds were sold to provide a market rate of return to the investor. Note: Round PV factor to 4 decimal places. Enter your answers in dollars, rather than in millions of dollars. Proceeds