On January 2, 2015, Wine Corporation Wishes to Issue $3,000,000

On January 2, 2015, Wine Corporation wishes to issue $3,000,000 (par value) of its 8%, 10-year bonds.The bonds pay interest annually on January 1.The current yield rate on such bonds is 10%.Using the interest factors below, compute the amount that Wine will realize from the sale (issuance) of the bonds.

A) $3,000,000
B) $2,631,204
C) $3,000,018
D) $3,318,078