On January 1, 2022, Jones Technology, Incorporated issued $820,000 of $1,000 par value, 3%,6 year bonds. Interest is payable serniannualy each January 1 and July I wh the finst interest payment due at the end of the period on July 1,2022. The market rate of irteiest for similar nonconvertible bonds on the date of the bond issue was 14%. Fovevec, because. these bonds ave corvertible, the elfective rate is 12%. Each bond is conventible into 80 staves of Jones Technology's $5 par value comenon stock Read the requiements The sssue price of the debt *