$5.$ On January $1,2025,$ Pepper Co$.$ issued ten$-$year bonds with a face value of $$5,000,000$ 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 $10$ periods at $10\%....................................\mathrm{.}38554$

$$ Present value of $1$ for $10$ periods at $12\%....................................\mathrm{.}32197$

$$ Present value of $1$ for $20$ periods at $5\%......................................\mathrm{.}37689$

$$ Present value of $1$ for $20$ periods at $6\%......................................\mathrm{.}311180$

$$ Present value of annuity for $10$ periods at $10\%.........................6\mathrm{.}14457$

$$ Present value of annuity for $10$ periods at $12\%.........................5\mathrm{.}65022$

$$ Present value of annuity for $20$ periods at $5\%...........................12\mathrm{.}46221$

$$ Present value of annuity for $20$ periods at $6\%...........................11\mathrm{.}46992$

What is the issue price of the bonds?

a$.$ $$1,559,000$

b$.$ $$4,426,480$

c$.$ $$2,867,480$

d$.$ $$3,115,553$