Required information [The following information applies to the questions displayed below.] Jessie Co. issued $5 million face amount of 5%, 10-year bonds on April 1, 2019. The bonds pay interest on an annual basis on March 31 each year. Required: a. Assume that market interest rates were slightly lower than 5% when the bonds were sold. Would the proceeds from the bond issue have been more than, less than, or equal to the face amount? Multiple Choice The bonds will sell for more than their face amount. The bonds will sell for less than their face amount. The bonds will sell for equal to their face amount.