Problem 1 (10pts) On January 1, 2017, Arbor Corp issued $800,000 of 20-year, 11% bonds at market yield of 12% p.a. Interest is payable semiannually on June 30 and December 31. Compute the issue price of the bonds. Show the financial statements effects using the template for the following: 1) bond issuance, 2) semiannual interest payment and discount amortization on June 30, 2017, and 3) semiannual interest payment and discount amortization on December 31, 2017.