A $$500,000$ bond issue sold at $98.$ Therefore, the bonds sold:

Multiple Choice

For the $$500,000$ face anount less $$10,000$ of accrued interest.

At a discount because the effective interest rate was lower than the flace rate.

At a premilum because the slated rate of interest was higher than the yleld rate.

Al a dicount bockure the staced rate of interest was lower than the elfective rate.