Allegiant issues $7\%,20-$year bonds with a par value of $$2,000,000$ and semiannual interest payments. In each separate situation, determine whether the bond is issued at par value, at a discount, or at a premium.

$\backslash$table$[[$Situation$,$Bond issued$],[1.$ Market rate for the bond is $6\%.,],[2.$ Market rate for the bond is $7\%.,],[3.$ Market rate for the bond is $8\%,]]$