On January 1, 2020, the Tri County Metro District issues $3,800,000 of 4% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $3,234,672.

a) Confirm the bond issuance price

b) Why are two different present value tables used to price the bond?

c) Is this bond issuing at a discount, premium or par? Explain your answer.

d) Create your own amortization table. The table should show the carrying value at January 1 as the first row. Include 3 full years of interest payments. Round all values to the nearest $1.