Bradley Nowell Co. issued $100,000 face value, 8% stated rate, 3 year bonds on 1/1/2011. The bonds pay interest semi-annually on June 30th and December 315t. At the time of issuance, the market rate of interest was 12%. Calculate the bond issue price. Step 1: Calculate the cash interest payments. Step 2: Calculate PVA of cash interest payments. Use present value of annuity table: PVA table Step 3: Calculate the PV of the bond face value. Use present value of single amount table: PV table Step 4: Add steps 2 and 3 to get the issue price. Calculate the discount on this bond