On January 1, 2021, Instaform, Inc. issued 10% bonds with a face amount of $50 milion dated January 1. The bonds mature in 2040 (20 years) The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually. (FV of $1. PV of $1. FVA of $1. PVA of Si, EVAD of S1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Required: 1-4. Determine the price of the bonds at January 1, 2021 1.b. Prepare the journal entry to record their issuance by Instaform 2-0. Assume the market rate was 9% Determine the price of the bonds at January 1, 2021 2-b. Assume the market rate was 9% Prepare the journal entry to record their issuance by Instaform 3. Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Using the data in requirement 2 prepare the journal entry to record the purchase by Broadcourt Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B Req 3 Determine the price of the bonds at January 1, 2021. (Enter your answer in w Price of the bonds $ 2,500,000 X K Re Req 1B plete this question by entering your answers in the tabs below. 3 1A Req 1B Reg 2A Req 2B Req3 are the journal entry to record their issuance by Instaform. (If no entry is required for a transaction/ev al entry required" in the first account field. Enter your answers in whole dollars.) Event General Journal Cash Debit 42,475,750 X Answers in the tabs belov Reg 1A Req 1B Req 2A Req 2B Reg 3 Assume the market rate was 9%. Determine the price of the bonds at Janua Price of the bonds