Sunland Cars Co. issued $1.74 million of 5\%, 5-year bonds on January 1, 2024. The bonds were dated January 1 and pay interest annually. The bonds are secured with real estate holdings. The market interest rate was 4% for these bonds. Sunland has a calendar year end. 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) Calculate the price of the bonds. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 0 decimal places, e.g. 1,575.) Price of the bonds PV=PMT(i1(1+i)n) PV=(1+i)n1 Calculate the price of the bonds. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 0 decimal places, e.g. 1,575.) Price of the bonds Record the bond issue. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)