Use the following information for items 21, 22 & 23. On January 1, 2017, Ellison Co. issued eight-year bonds with face value of $6,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: The present value of the principal is a. $3, 204,000. b. $3, 240,000. c. $3, 738,000. d. $3, 762,000. The present value of the interest is a. $2, 068, 920. b. $2, 097, 360. c. $2, 235, 600. d. $2.260, 980. The issue price of the bonds is a. $5, 301, 360. b. $5, 308, 920. c. $5, 337, 360. d. $5.997.600. Smythe Company issues $5,000,000, 6%, 5-year bonds dated January 1, 2017 on January 1, 2017. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 5%. What are the proceeds from the bond issue? a. $5,000,000 b. $5, 216, 494 c. $5, 218, 809 d. $5, 217, 309 Garr Company issues $20,000,000 of 10-year, 9% bonds on March 1, 2017 at 97 plus accrued interest. The bonds are dated January 1, 2017, and pay interest on June 30 and December 31. What is the total received on the issue date? a. $19, 400,000 b. $20, 450,000 c. $19, 700,000 d. $19, 100,000