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12A. On December 31, 2018, when the market interest rate is 8%, Hayden Corporation issues $150,000 of 6%, 4-year bonds payable. The bonds pay interest semiannually. Determine the present value of the bonds at issuance. (Click the icon to view Present Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of $1 table.) Start by calculating the present value of the principal. (Enter factor amounts to three decimal places, X.XXX.) Value Factor - PV of principal X - Now calculate the present value of the stated interest. (Enter factor amounts to three decimal places, X.XXX.) Semiannual interest PV of stated Value rate Factor interest % ) x Finally, calculate the present value of bonds payable. PV of principal PV of stated interest = PV of bonds payable +