Issue Price The following terms relate to independent bond issues: a. 460 bonds: $1,000 face value: 8% stated rate: 5 years; annual interest payments b. 460 bonds; $1,000 face value; 8% stated rate; 5 years; semiannual interest payments C. 820 bonds: $1,000 face value; 8% stated rate; 10 years; semiannual interest payments d. 1,840 bonds: $500 face value: 12% stated rate; 15 years; semiannual interest payments Use the appropriate present value table: PV of $1 and PV of Annuity of $1 Required: Assuming the market rate of interest is 10%, calculate the selling price for each bond issue. If required, round your intermediate calculations and final answers to the nearest dollar. Situation Selling Price of the Bond Issue $ 924.18 x a b. 922.78 X $ 875.38 d. 576.86 Feedback Check My Work 1) Face value of the bonds is the maturity amount of the bonds as indicated on the face of the bond contract. 2) Face rate of interest is the amount of interest that will be paid on the bonds as indicated in the bond contract. 3) n = periods, i = annual market rate of interest/periods per year. Bonds typically pay interest twice a year