On July $1,20$X$1,$ Mirage Company issued $$250$ million of bonds with an $8\%$ coupon interest rate. The bonds mature in $10$ years and pay interest semiannually on June $30$ and December $31$ of each year. The market rate of interest on July $1,20$X$1,$ for bonds of this risk class was $8\%.$ Mirage closes its books on December $31.$ Ignore income taxes. Use the following links to the present value tables to calculate answers. $($PV of $1,$ PVAD of $1,$ and PVOA of $1)($Use the appropriate factor$($s$)$ from the tables provided.$)$

Required:

At what price were the bonds issued?

On July $1,203,$ the market interest rate for bonds of this risk class is $6\%.$ What is the fair value of the bonds on this date?

Suppose that $50\%$ of the bonds were repurchased for cash on July $1,203,$ at the market price. What journal entry would the company make to record this partial retirement?

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Req $3$

At what price were the bonds issued? $($Do not round intermediate calculations. Enter your answer rounded to the nearest whole dollar and not millions of dollars.$)$

On July $1,203,$ the market interest rate for bonds of this risk class is $6\%.$ What is the fair value of the bonds on this date? $($Do not round intermediate calculations. Enter your answer rounded to the nearest whole dollar and not millions of dollars.$)$

$\backslash$table$[[,,],[1.,$Issuance price,$],[2.,$Bond price at July $1,203,]]$

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