Check my work Problem 14-1 Determining the price of bonds; discount and premium; issuer and investor [LO14-2] On January 1, 2018, Instaform, Inc., issued 12% bonds with a face amount of $60 million, dated January 1. The bonds mature in 2037 (20 years). The market yield for bonds of similar risk and maturity is 14%. Interest is paid semiannually. A of 1 P SI RA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1-a. Determine the price of the bonds at January 1, 2018. 1-b. Prepare the journal entry to record their issuance by Instaform. 2-a. Assume the market rate was 11%. Determine the price of the bonds at January 1, 2018. 2-b. Assume the market rate was 11% Prepare the journal entry to record their issuance by Instaform. 3. Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Using the data in requirement 2, prepare the journal entry to record the purchase by Broadcourt. Complete this question by entering your answers in the tabs below Req 28Req 3 Req 1A Req 1B Determine the price of the bonds at January 1, 2018. (Enter your answer in whole dollars.) Price of the bonds Req 2A Req 1B>