15. Bonds with a face value of $100,000 that are issued for $99,400 have a stated interest rate:

a. that is more than the yield rate.

b. that is less than the yield rate.

c. that is equal to the yield rate.

d. that may be more or less than the yield rate, but there is not enough information given to determine which.

17. On May 1, 2023, CIALES Corporation sold $90,000 of its 15%, five-year bonds dated

January 1, 2023, for $99,000 total cash. The bonds sold at:

a. 105

b. 100

c. 99

d. 95

18. On January 1, 2023, PR Co. issued $50,000 of 8%, ten-year bonds at 98. Issuance costs

amounted to $2,000. On July 1, 2026, one half of the bonds were called at 103. What was the

loss on bond retirement, assuming the use of straight-line amortization?

a. $1,425

b. $ 975

c. $2,425

d. $2,250