(14) Question 3 - McGrath Metal Manufacturing issued $75 million 20-year bonds to finance the expansion of its operations into Fort McMurray, Alberta. The bonds pay 6% semi-annually and were issued at 89.322 to yield 7%. a) Calculate the proceeds on issuance (price to investors) of the bonds. b) Prepare the journal entry to record thei'ttsl: semi-annual interest payment for the bonds. c) Why is the price of the bonds different than the face value