12A. On December 31, 2018, when the market interest rate is 16%, Armstrong Corporation issues $160,000 of 9%, 10-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