1. Sandford Co. sells bonds on March 1, 2020. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2023. Pertinent information follows:

Par value of the bonds $500,000

Stated interest rate 10%

Bond yield rate 12%

2. Titania Co. sells bonds on June 1, 2020. The bonds pay interest on December 1 and June 1.

The due date of the bonds is June 1, 2024. On October 1, 2021, Titania buys back a portion of the bonds. Additional information follows:

Par value of the bonds issued $400,000

Stated interest rate 12%

Bond yield rate 10%

Face amount of bonds bought back $120,000

Amount paid to buy back bonds including interest $126,000

** Please calculate the issue price and discount using Excels PV function and formulas, and include the formulas in your answer for both Sanford Co. and Titania Co.