Use the Following Information for Questions 60 Through 62

Multiple Choice

Use the following information for questions 60 through 62:
On January 1, 2014, Ellison Co. issued eight-year bonds with a face value of $4,000,000 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) $2,136,000.
B) $2,160,000.
C) $2,492,000.
D) $2,508,000.