Question 7 The face value is $82,000, the stated rate is 10%, and the term of the bond is eight years. The bond pays interest semiannually. At the time of issue, the market rate is 8%. what is the present value of the bond at the issue date? Present value of $1 14% 15% 16% 17% 18% 16 0.534 0.458 0.394 0.339 0.292 17 0 18 0.494 0.416 0.350 0.296 0.250 19 0.475 0.396 0.331 0.277 0.232 0.43 Present value of ordinary annuity of $1: 15 11.118 10.380 9.712 9.108 8.559 16 11.652 10.838 10.106 9.447 8.851 18 12.659 11.690 10.828 10.059 9.372 19 13.134 12.085 11.158 10.336 9.604 O $47,773 O $91,561 $84,788 O $43,673