Sunland Company issues $24700000, 5%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 4%. What are the proceeds from the bond issue?

ff	2.0%	2.5%	4%	5%
Present value of a single sum for 5 periods	0.90573	0.88385	0.82193	0.78353
Present value of a single sum for 10 periods	0.82035	0.78120	0.67556	0.61391
Present value of an annuity for 5 periods	4.71346	4.64583	4.45182	4.32948
Present value of an annuity for 10 periods	8.98259	8.75206	8.11090	7.72173

A.

$24700000

B.

$25797819

C.

$25809394

D.

$25801889