On December 31, 2018, University Theatres issued $500,000 face value of bonds. The stated rate is 8%, and interest is paid semiannually on June 30 and December 31. The bonds mature in 15 years.

Exercise 9-94 Calculating Bond Issue Price On December 31, 2018, University Theatres issued $500,000 face value of bonds. The stated rate is 8%, and interest is paid semiannually on June 30 and December 31. The bonds mature in 15 years. Required: a. Assuming the market rate of interest is 6%, calculate at what price the bonds are issued. $ 500,000 X b. Assuming the market rate of interest is 10%, calculate at what price the bonds are issued