Exercise $9-21($Algo$)$ Part $1$

Required:

$1-$a$.$ If the market rate is $8\%,$ calculate the issue price. $($FV of $$1,PV$ of $$1,$FVA of $$1,$ and PVA of $$1)$

$1-$b$.$ Will the bonds issue at face amount, a discount, or a premium?

Complete this question by entering your answers in the tabs below.

Req $10$

If the market rate is $8\%,$ calculate the issue price. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)($Use appro factor$($s$)$ from the tables provided. Enter your answers in dollars not in millions $($i$.$e$.,$ $$5\mathrm{.}5$ million should be enter $5,500,000).$ Round your final answers to the nearest whole dollar.$)$

$\backslash$table$[[$Bond Characteristics,Amount$],[$Face amount,$39,700,000$