Determine whether the following bonds payable will be issued at par, at a premium, or at a discount:

a. The market interest rate is 5 percent. Wilson Corp. issues bonds payable with a stated rate of 61∕2 percent.

b. Apex, Inc., issued 61∕2 percent bonds payable when the market rate was 71∕4 percent.

c. Huntwood Corporation issued 9 percent bonds when the market interest rate was 9 percent.

d. Billings Company issued bonds payable that pay cash interest at a stated rate of 5 percent. At the date of issuance, the market interest rate was 61∕4 percent.