Computing the issue price of bonds. Compute the issue price of each of the following bonds:

a. $l,000.000-par value. 12 percent semiannual coupon bonds, with interest payable each six months and the principal due in 15 years, priced on the market to yield 10 percent compounded semiannually

b. $ 1 ,000,000-par value serial bonds repayable in equal semiannual installments of

$75,000 for 15 years, priced on the market to yield 8 percent compounded semiannually

c. $ 1 ,000,000-par value zero coupon bonds due in 15 years, priced on the market to yield 12 percent compounded semiannually

(Appendix)