On January 1, 2015, Haley Co.issued ten-year bonds with a face amount of $5,000,000 and a stated interest rate of 8% payable annually on January 1.The bonds were priced to yield 10%.Present value factors are as follows: The total issue price of the bonds was

Question

On January 1, 2015, Haley Co.issued ten-year bonds with a face amount of $5,000,000 and a stated interest rate of 8% payable annually on January 1.The bonds were priced to yield 10%.Present value factors are as follows:  The total issue price of the bonds was

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The Answer of On January 1, 2015, Haley Co.issued ten-year bonds with a face amount of $5,000,000 and a stated interest rate of 8% payable annually on January 1.The bonds were priced to yield 10%.Present value factors are as follows:  The total issue price of the bonds was