Martinez Inc. issues $$2,500,000$ of $7\%$ bonds due in $10$ years with interest payable at year$-$end. The current market rate of interest for bonds of similar risk is $12\%.$ At what price were the bonds issued?

$2,500,000$

$1,793,722$

$1,544,451$

$2,612,740$

$1,958,223$