Answer each of the questions in column 1 under three independent scenarios. All three use this information: On January 1, 2023, Microsoft issued a $500,000, 5%, 20-year bond. Interest is payable on June 30 and December 31.

Show all calculations. Round numbers to the nearest dollar if necessary.

	If the bond is issued at 100	If the bond is issued at 96	If the bond is issued At 104
Is this bond issued at par, at a discount, or at a premium?
Was the market rate of interest on each bond equal to, greater than or less than the market rate of interest on the date of issuance?
What is the face amount of the bond?
How much interest will be paid on each interest payment date?
What is the total amount of interest payments for this bond?
What is the total amount of interest expense on this bond?
How much cash will be repaid at maturity?