Problem 14-8AA (Static) Computing bond price and recording issuance LO C2 Hartford Research issues bonds dated January 1 that pay interest semiannually on June 30 and December 31 . The bonds have $40,000 par value and an annual contract rate of 10%, and they mature in 10 years. Note: Use Time Value of Money formulas and/or Excel functions to determine the amounts. Required: Consider each separate situation. 1. The market rate at the date of issuance is 8%. (a) Complete the below table to determine the bonds' issue price on January 1 (b) Prepare the journal entry to record their issuance. 2. The market rate at the date of issuance is 10%. (a) Complete the below table to determine the bonds' issue price on January 1. (b) Prepare the journal entry to record their issuance. 3. The market rate at the date of issuance is 12%. (a) Complete the below table to determine the bonds' issue price on January 1. (b) Prepare the journal entry to record their issuance. Complete this question by entering your answers in the tabs below. Complete the below table to determine the bonds' issue price on January 1 if the market rate at the date of issuance is 8%. Note: Round all values to 2 decimal places. HINT: Use PV function in Excel or Google Sheets to solve