Exercise 10-8A Computing bond interest and price; recording bond issuance LO C2, P3 Citywide Company issues bonds with a par value of $80,000 on their stated issue date. The bonds mature in six years and pay 10% annual interest in semiannual payments. On the issue date, the annual market rate for the bonds is 8 %. (Table B1. Table B2. Table B3. and Iable B4) (Use appropriate factor(s) from the tables provided.) 1. What is the amount of each semiannual interest payment for these bonds? 2 How many semiannual interest payments will be made on these bonds over their life? 3. Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium. 4. Compute the price of the bonds as of their issue date. 5. Prepare the journal entry to record the bonds issuance. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 to 3 Req 4 Req 5 Compute the price of the bonds as of their issue date. (Round intermediate calculations to the nearest dollar amount.) Table Values are Based on: 80000 n 0 1% x Table Cash Flow Amount Present Value Value Par (maturity) value Interest (annuity) Price of bonds 9 3851 s 4.000 37,540 eis 80.000 0.6246 49,968 87.508 Req 5