On January 1, 2018, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Payment Cash Payment Effective Interest Increase in Balance Outstanding Balance 6,047,387 1 292,000 302,369 10,369 6,057,756 2 292,000 302,888 10,888 6,068,644 3 292,000 303,432 11,432 6,080,076 4 292,000 304,004 12,004 6,092,080 5 292,000 304,604 12,604 6,104,684 6 292,000 305,234 13,234 6,117,918 ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ 38 292,000 355,060 63,060 7,164,267 39 292,000 358,213 66,213 7,230,480 40 292,000 361,520 69,520 7,300,000 Required: 1. What is the face amount of the bonds