(Learning Objective 2: Determining bond prices at par, discount, or premium) Determine whether the following bonds payable will be issued at maturity value, at a premium, or at a discount:

a. The market interest rate is 5%. Carlisle Corp. issues bonds payable with a stated rate of 4.5%.

b. Oiler, Inc., issued 7% bonds payable when the market rate was 6.75%.

c. Toronto Corp. issued 5% bonds when the market interest rate was 5%.

d. Ontario Company issued bonds payable that pay stated interest of 6%. At issuance, the market interest rate was 7.25%.