1. Determine the present value of six-year bonds payable with face value of $92,000 and stated interest rate of 14%, paid semiannually. The market rate of interest is 14% at issuance. 2. Same bonds payable as in Requirement 1 , but the market interest rate is 16%. 3. Same bonds payable as in Requirement 1 , but the market interest rate is 8%