Question: a . On January 1 , 2 0 2 1 , TCU Utilities issued $ 1 , 0 0 0 , 0 0 0 in

a. On January 1,2021, TCU Utilities issued $1,000,000 in bonds that mature in 10 years. The bonds have a stated interest rate of 10 percent and pay interest annually on December 31 each year. When the bonds were sold, the market rate of interest was 12 percent. What was the issue price on January 1,2021?
a. On January 1,2021, TCU Utilities issued $1,000,000 in bonds that

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