Problem 14-1 (Algo) Determining the price of bonds; discount and premium; issuer and investor [LO14-2] On January 1,2024 , Instaform, Incorporated, Issued 12% bonds with a face amount of $65 million, dated January 1. - The bonds mature in 2043 (20 years). - The market yleld for bonds of simllar risk and maturity is 14%. - Interest is pald semlannually. Requlred: 1-a. Determine the price of the bonds at January 1, 2024. 1-b. Prepare the journal entry to record their Issuance by Instaform. 2-a. Assume the market rate was 11\%. Determine the price of the bonds at January 1,2024. 2b. Assume the market rate was 11\%. Prepare the Journal entry to record their Issuance by Instaform. 3. Assume Broadcourt Electronics purchased the entire Issue in a private placement of the bonds. Using the data in requirement 2 , prepare the journal entry to record the purchase by Broadcourt. Note: Use tables, Excel, or a financlal calculator. (EV of $1, PV of $1, FVA of $1, PVA of $1, EVAD of $1 and