es Allegiant issues 3 % , 20-year bonds with a par value of $2,000,000 and semiannual interest payments. In each separate situation, determine whether the bond is issued at par value, at a discount, or at a premium. Situation 1. Market rate for the bond is 2%. 2. Market rate for the bond is 3%. 3. Market rate for the bond is 4%. Bond issued

Allegiant issues 3%,20-year bonds with a par value of $2,000,000 and semiannual interest payments. In each separate situation, determine whether the bond is issued at par value, at a discount, or at a premium