On January 1, Year 8, T-Best Corporation issued $10 million face value, 10-year bonds. The bonds carry a stated interest rate of 6 percent per year, payable semiannually on June 30 and December 31. The bonds were initially priced on the market to yield 4 percent, compounded semiannually. (15 points) Required: a. Compute the issue price of these bonds on January 1, Year 8. b. Compute the amount of interest expense on these bonds for Year 8, assuming that the firm uses the effective-interest method of amortizing bond premium or discount. C. On January 1, Year 11, the bonds traded in the market at face value. On this date, T-Best repurchased these bonds on the open market and retired them. Give the journal entry to record the repurchase.