On January 1, 2024, Instaform, Incorporated, issued 10% bonds with a face amount of $48 million, dated January 1. - The bonds mature in 2043 (20 years). - The market yield for bonds of similar risk and maturity is 12%. - Interest is paid semiannually. Required: 1-a. Determine the price of the bonds at January 1, 2024. 1-b. Prepare the journal entry to record their issuance by Inst aform. 2-a. Assume the market rate was 9%. Determine the price of the bonds at January 1, 2024. 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Determine the price of the bonds at January 1, 2024. Note: Enter your answer in whole dollars