See attachment . Calculate issuance price of bond.

On January 1, 20D, James Co. issued $5 million of 10-year bonds at a 10% stated interest rate to be paid semiannually. The following present value factors have been provided to answer the subsequent questions: Time Period 10 10 10 20 20 20 Interest 10% 8% 12% 5% 4% 6% .386 .463 .322 .377 .456 .312 PV of $ 6.145 6.710 5.650 12.462 13.590 11.470 Calculate the issuance price if the market rate of interest is 12% A. $4,435,000 B. $5,000,000 C. $4,477,500 D. $4,427,500 PV of an Annuity