Medule 12 Checkpoint #1 On December 31, 2020, Gallagher Corporation issued 5600,000, 6%, 23.yes bonds when the market rate of interest was 8%. The bonds pwy interest semi-annually cach June 30 and December 31 A. SET-UP OF BASIC BOND INFORMATION: Face Value Stated Rate of interest Annual Stated Interest Periodic Stated Interest B. Do you expect the bond to be issued at a premium or discount? Explain. c. Bond Price Computation