On January $1,2024,$ Water World issues $$25\mathrm{.}9$ million of $6\%$ bonds, due in $20$ years, with interest payable semiannually on

June $30$ and December $31$ each year. Water World intends to use the funds to build the world's largest water avalanche

and the "tornado"$-$ a giant outdoor vortex in which riders spin in progressively smaller and faster circles until they drop

through a small tunnel at the bottom.

$3-$a$.$ If the market rate is $7\%,$ calculate the issue price. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

$3-$b$.$ Will the bonds issue at face amount, a discount, or a premium?

Complete this question by entering your answers in the tabs below.

Excel, or a financial calculator. Enter your answers in dollars not in millions $($i$.$e$.,$ $$5\mathrm{.}5$ million should be entered as

$5,500,000.$ Round your final answers to the nearest whole dollar.$)$