On January Adventure World issues $ million of bonds, due in years, with interest payable semiannually on June and December each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride.

Required:

a If the market rate is calculate the issue price. FV of $ PV of $ FVA of $ and PVA of $

b Will the bonds issue at face amount, a discount, or a premium?