On January $1,2024,$ Ocean World issues $$40\mathrm{.}9$ million of $8\%$ bonds, due in $15$ years, with interest payable semiannually on June $30$ and December $31$ each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride.

$2-$a$.$ If the market rate is $8\%,$ calculate the issue price. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

$2-$b$.$ Will the bonds issue at face amount, a discount, or a premium?