On January 1, 2016, Trueman Corp. issued $600,000 of 20-year, 11% bonds for $554,860, yielding a market (yield) rate of 12%. Interest is payable semiannually on June 30 and December 31.Requireda. Confirm the bond issue price.(Use a calculator or Excel for your calculations. Round your answers to the nearest dollar.)Present value of principal repayment$AnswerPresent value of interest payments$AnswerSelling price of bonds$Answer