The correct answer to the following question is $4,184, 485. Please explain with full details & thank you:

3. Use the following information to answer the questions below that are required to ultimately calculate a company's WACC: Long-term bonds: 3,500 bonds outstanding with 7.20% p.a. coupons paid semi-annually, $1000 face value, 25 years to maturity, current market yield is 5.72% p.a. Preference shares: pay a dividend of 8% p.a. forever on a $15 face value, 45,000 outstanding, currently selling for $14.20 per share. Ordinary shares: 175,000 shares outstanding selling for $37 per share with beta of 1.15. Other information: Market risk premium = 7%, risk-free rate = 3.1% p.a., company tax rate = 30%. (a) What is the total market value of the bonds