Use the following information for questions 66 through 68: On January 1, 2015, Ellison Co. issued eight-year bonds with a face value of $1,000,000 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: 66. 67. 68. Present value of 1 for 8 periods at 6%........................................... .627 Present value of 1 for 8 periods at 8%........................................... .540 Present value of 1 for 16 periods at 3%......................................... .623 Present value of 1 for 16 periods at 4%......................................... .534 Present value of annuity for 8 periods at 6%................................. 6.210 Present value of annuity for 8 periods at 8%................................. 5.747 Present value of annuity for 16 periods at 3%............................... 12.561 Present value of annuity for 16 periods at 4%............................... 11.652 66.The present value of the principal is a. $534,000. b. $540,000. c. $623,000. d. $627,000. 67.The present value of the interest is a. $344,820. b. $349,560. c. $372,600. d. $376,830. 68.The issue price of the bonds is a. $883,560. b. $884,820. c. $889,560. d. $999,600.