Reporting Financial Statement Effects of Bond Transactions On January 1, 2016, McKeown, Inc., issued $300,000 of 6%, 9-year bonds for $262,022, yielding a market (yield) rate of 8%. Semiannual interest is payable on June 30 and December 31 of each year. Required a. Show computations to confirm the bond issue price. (Use a calculator or Excel for your calculations. Round your answers to the nearest dollar.) Present value of principal repayment $ 148,089 X Present value of interest payments $ 113.933 x Selling price of bonds $ 262 022