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2. In order to raise $7.8 million of capital, JMJ Corp. issued $1,000 par value zero coupon bonds on June 30, 2020. The final redemption

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2. In order to raise $7.8 million of capital, JMJ Corp. issued $1,000 par value zero coupon bonds on June 30, 2020. The final redemption date is June 30, 2030 (ten years). The yield to maturity on the issue date was 2.5%. JMJ Co.'s tax rate is 25%. a. What was the issue price of the bond on June 30, 2020? b. How many individual bonds did the company issue in order to raise the necessary funds? c. What was the interest expense on the $7.8 million of debt capital for the six months from the issue date to the year-end at December 31, 2020

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