Your answer is incorrect.

On January $1,2024,$ Sheridan Co$.$ issued eight$-$year bonds with a face value of $$6080000$ and a stated interest rate of

$10\%,$ payable semiannually on June $30$ and December $31.$ The bonds were sold to yield $12\%.$ Table values are:

Present value of $1$ for $8$ periods at $10\%$

Present value of $1$ for $8$ periods at $12\%$

Present value of $1$ for $16$ periods at $5\%$

Present value of $1$ for $16$ periods at $6\%$

Present value of annuity for $8$ periods at $10\%$

Present value of annuity for $8$ periods at $12\%$

Present value of annuity for $16$ periods at $5\%$

Present value of annuity for $16$ periods at $6\%$

$0\mathrm{.}46651$

$0\mathrm{.}40388$

$0\mathrm{.}45811$

$0\mathrm{.}39365$

$5\mathrm{.}33493$

$4\mathrm{.}96764$

$10\mathrm{.}83777$

$10\mathrm{.}10590$

The issue price of the bonds is