1. A $900,000, ten-year, 4% bond issue was sold to yield 5% interest payable annually. Actuarial information for 10 periods is as follows:

	4%	5%
Present value of 1	0.67556	0.61391
Present value of an annuity of 1	8.11090	7.72174

Refer to Exhibit 14-4. The discount or premium at the date of bond issuance would be

$19,114 premium

$44,923 premium

$17,206 discount

$43,015 discount

2. A $500,000, ten-year, 7% bond issue was sold to yield 6% interest payable annually. Actuarial information for 10 periods is as follows:

	6%	7%
Present value of 1	0.50835	0.55839
Present value of an annuity of 1	7.02359	7.36009

Refer to Exhibit 14-2. The discount or premium at the date of bond issuance would be

$36,798 premium

$11,778 premium

$35,117 discount

$10,097 discount

3.

A $300,000, ten-year, 8% bond issue was sold to yield 9% interest payable annually. Actuarial information for 10 periods is as follows:

	8%	9%
Present value of 1	0.46319	0.42241
Present value of an annuity of 1	6.71008	6.41766

Refer to Exhibit 14-1. At date of issuance cash received would be

$287,765

$292,998

$299,998

$280,747