Problem 14-1 (Algo) Determining the price of bonds; discount and premium; issuer and investor [LO14-2] On January 1, 2024. Ingtaform, Incorporated, laeved 12% bonds with a face ameunt of 565 million, dated January 1. - The bonds mature in 2043 (20 years). - The market yeld for bonds of simitar riak and naturty is 14%. - Interest is paid servannually. Required: 1. a. Determine the price of the bonds at January 1, 2024 1.6. Piepare the joumat eniry to record their issuance by instaform. 2-a. Assume the market rate was 11%. Delermine the price of the bonds at January 1,2024. 2.b. Assume the maiket rate was 11\%. Prepare the journal entry lo 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 puinal entry to record the purchase by Broadcourt. Note: Use tables, Excel, or a financial caleulator. (EV of 51. DV of 51. EVA of 51. PVA of S1, DVAD ol 51 and PVAD OLS1) Complete this question by entering your answers in the tabs below. Assume the market rate was 11%. Prepare the joumal entry to record their issuance by Instaform. Note: If no entry is required for a transadion/event, select " No joumal entry required" in the first account field. Enter your answers in whole dollars. Journal entry worksheet