on 1 july 2018 power ltd issues $10 million in five year denentures that pay interest each 6 months at coupon rate of 5%. at the time of issuing the securities the market requires a raye of return of 8%. interest expense id determined using the effective interest method.

required:

a) determine if the debenture is issued premium or discount?

b) determine the fair value of the debentures?

corporation and financial accounting