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PROBLEMS P 14-1 Determining the price of bonds: dis- Iswar and investor - L02 On January 1, 2012, Instaform Company issued 10% bonds with a principal amount of $50 million, dated January 1. The bonds mature in 2031 (20 yenis). The market yield fur bonds of similar risk and maturity is 12 Interest is paid semiannually. crunt and premium: Required: 1. Determine the price of the bonds at January 1, 2012 and prepare the journal entry to record their issuance by Instaform 2. Assume the market rate ww9%. Determine the price of the bonds at lunuary 1, 2012, and prepare the journal entry to record their issuance by Instform 3. Assume Broadcuurt Electronics purchased the entire issue in a private placement of the bonds. Using the data in requirement 2. prepare the journal entry to record their purchase by Broadcourt