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:
Common Size Income Statement
An income statement in which each line item is expressed as a percentage of sales revenue, facilitating comparison across companies or periods.
Percent of Assets
A measure or indicator expressed as a percentage of a company's total assets.
Interest Coverage Ratio
A financial metric used to determine how easily a company can pay interest on outstanding debt with its current earnings before interest and taxes.
Debt Ratio
A financial ratio that measures the proportion of a company's total debt to its total assets.
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