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Gauntlet Corporation issued $ 200 comma 000 par value, 4 %, 4-year bonds (i.e., there were 200 of $ 1,000 par value bonds in the

Gauntlet Corporation issued $ 200 comma 000 par value, 4 %, 4-year bonds (i.e., there were 200 of $ 1,000 par value bonds in the issue). Interest is payable semiannually each January 1 and July 1 with the first interest payment due at the end of the period on July 1. Determine the issue price of the bonds if the market rate of interest is 6 %. Determine the issue price of the bonds

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