Chapter 9 In class assignment-submitted in Canvas n The company issues 8% 5-year bonds with a total face amount of $1,000,000 with interest paid semi-annually. The market rate of interest is 7.8%. % PV PVA 5 7.80% 0.68692 4.0138 5 8.00% 0.68058 3.9927 10 3.90% 0.68209 8.1514 10 4.00% 0.67556 8.1109 ROUND ANSWERS TO NEAREST DOLLAR 1. What is the issue price of the bond? $_ 2. How much is the discount or premium? $. 3. What is the interest expense for the first interest payment? $ 4. What is the bond liability after the first interest payment? $_ 5. What is the interest expense for the second interest payment? $