Problem 3 (11 pts) On January 1, 2023, NevMind, Inc., issued 5 -year, 6% bonds with a face amount of $13 million, dated January 1 . The market yield for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31. Required: a. Determine the selling price of the bonds at January 1, 2023 (7 pts). Some relevant and irrelevant present value factors: PV of $1:n=5,i=6% is 0.74726 ; PV of $1:n=10,i=3% is 0.74409;PV of $1:n=10, i=4% is 0.67556 ; PV of an ordinary annuity of $1:n=5,i=6% is 4.21236 ; PV of an ordinary annuity of $1:n=10,i=4% is 8.11090 ; PV of an ordinary annuity of $1:n=5,i=8% is 3.99271 ; of an annuity due of $1:n=10,i=3% is 8.78611 ; PV of an annuity due of $1:n=10,i=4% is 8.43533 . b. Prepare the journal entry to record the issuance of the bonds ( 4pts )