On January 1 of this year, Clearwater Corporation sold bonds with a face value of $755,000 and a coupon rate of 6 percent. The bonds mature in 10 years and pay interest annually every December 31. Clearwater uses the straight-line amortization method and also uses a discount account. Assume an annual market rate of interest of 7 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.)

Cash Interest Amortization Balance Paid Expense $948 January 1, Year 1 $16 964 December 31, Year 1 $60 $76 December 31, Year 2 60 77 17 981 December 31, Year 3 1,000 60 Required: 1. What was the bond's issue price? Bond issue price 2. Did the bond sell at a discount or a premium? How much was the premium or discount