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B Ex Qu . 9 - 2 5 5 ( Algo ) On January 1 , 2 0 2 4 , a company issues... Jn

B Ex Qu.9-255(Algo) On January 1,2024, a company issues...
Jn January 1,2024, a company issues $40.1 million of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and Jecember 31 each year.
Required:
1-a. If the market rate is 8%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
1-b. Will the bonds issue at face amount, a discount, or a premium?
2-a. If the market rate is 9%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
2-b. Will the bonds issue at face amount, a discount, or a premium?
3-a. If the market rate is 10%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
3-b. Will the bonds issue at face amount, a discount, or a premium?
Complete this question by entering your answers in the tabs below.
Req 1a
Req 1b
Req2a
Req 2b
Req3a
Req 3b
If the market rate is 7%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1)(Use appropriate factor(s) from the tables provided. Enter your answers in dollars not in millions (i.e., $5.5 million should be entered as 5,500,000). Round your final answers to the nearest whole dollar.)
\table[[Bond Characteristics,Amount],[Face amount,$,40,100,000
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