On January 1, 2024, Instaform, Incorporated, issued 12% bonds with a face amount of $45 million, dated January 1. - The bonds mature in 2043 (20 years). - The market yield for bonds of similar risk and maturity is 14%. - 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 Instaform. 2-a. Assume the market rate was 11%. Determine the price of the bonds at January 1,2024. 2-b. Assume the market rate was 11%. 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. Note: Use Excel, or a financial calculator. 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