Computing the Price of a Bond Issued at a Discount Assume General Motors Corporation is planning to issue bonds with a face value of $250,000 and a coupon rate of 6 percent. The bonds mature in five years and pay interest semiannually every June 30 and December 31 . All of the bonds were sold on January 1 of this year. Determine the issuance price of the bonds assuming an annual market rate of interest of 8 percent