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Please answer the following question. Thanks! Rankin Corp. sold $800,000, 6%, 15-year bonds on January 1, 20X1. The bonds were dated January 1, 20X1, and

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Please answer the following question. Thanks!

Rankin Corp. sold $800,000, 6%, 15-year bonds on January 1, 20X1. The bonds were dated January 1, 20X1, and pay interest on December 31. The bonds were sold at 96. Required: Answer the following two questions. Were these bonds issued at face value, a discount, or a premium? Answer: Stated as a dollar amount, what was the issue price of these bonds? Answer: $. (do not include decimals or cents in the response)

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