Knowledge Check 01 On January 1, 2018, East Lansing, Inc, issues $2,000,000 of 10 percent, 5-year bonds that pay interest of $100,000 semiannually. The market rate is 8 percent at the time of issuance. The issue price of the bonds is o s,852.810 $1888,970 $1.999.970 $2,162.290