Computing the issue price of bonds and interest expense. Robinson Company issues \(\$ 5,000,000\)-par value, 8 -percent semiannual coupon bonds maturing in 10 years. The market initially prices these bonds to yield 10 percent compounded semiannually.

a. Compute the issue price of these bonds.

b. Compute interest expense for the first six-month period.

c. Compute interest expense for the second six-month period.

d. Compute the book value of the bonds after the second six-month period.

e. Use present value computations to verify the book value of the bonds after the second six-month period as computed in part \(\mathbf{d}\) above.