Transcribed image text: .540 .623 On January 1, 2020. Ellison Co. issued eight-year bonds with a face value of $6,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: Present value of 1 for 8 periods at 6%..... .627 Present value of 1 for 8 periods at 8%. Present value of 1 for 16 periods at 3%.. Present value of 1 for 16 periods at 4% Present value of annuity for 8 periods at 6%. 6.210 Present value of annuity for 8 periods at 8%. Present value of armuity for 16 periods at 3%. Present value of annuity for 16 periods bt 4% .534 5.747 12.561 11.652 What is the issue price of the bonds? 5.337,360 5.997400 5.308.920 5.301.300