On January 1 of the current year, Arbor Corporation issued $800,000 of 20-year, 11% bonds for $739,815, yielding a market (yield) rate of 12%. Interest is payable semiannually on June 30 and December 31. (a) Confirm the bond issue price. Round answers to the nearest whole number. Present value of principal repayment Answer 77,778 Present value of interest payments Answer 662,037 Selling price of bonds $739,815 (b) Indicate the financial statement effects using the template for (1) bond issuance, (2) semiannual interest payment and discount amortization on June 30, and (3) semiannual interest payment and discount amortization on December 31 of the current year