Patterson Company is about to issue $8,000,000 of 10-year bonds paying an 8% interest rate with interest payable semiannually. The discount rate for such securities is 10%. Below are time value of money factors that Patterson uses to calculate compounded interest. 
To the closest dollar, how much can Patterson expect to receive for the sale of these bonds?
Definitions:
Sociology
The scientific study of society, social relationships, social interactions, and culture that surrounds everyday life.
Diverse Society
A community characterized by a variety of different cultural, ethnic, racial, and social backgrounds.
Capitalism
An economic system based on private ownership and the free market, characterized by the pursuit of profit.
Lumpenproletariat
A term coined by Marx to describe the class of outcasts in society, such as the unemployed and criminals, who are not involved in industrial production.
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