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E15-2 Central College is about to issue $1 million of 10-year bonds that pay a 6% annual interest rate, with interest payable semi-annually. Instructions (a) Calculate the issue price of these bonds if the market interest rate is (1) 5%, (2) 6%, and (3) 7%. (b) Calculate the interest expense for the first interest period if the market interest rate is (1) 5%, (2) 6%, and (3) 7%. (c) Calculate the interest payment if the market interest rate is (1) 5%, (2) 6%, and (3) 7%