(Appendix 9A) Calculating Bond Issue Price On January 1, University Theatres issued $504,000 face value of bonds. The stated rate is 8%, and interest is paid semiannually on June 30 and December 31. The bonds mature in 15 years. Do not round intermediate calculations. Round factors to five decimal places and final answers to the nearest dollar. Use Present Value of a Single Amount and Present Value of an Annuity. Required: a. Assuming the market rate of interest is 6%, calculate at what price the bonds are issued. b. Assuming the market rate of interest is 10%, calculate at what price the bonds are issued.