Requirement 1. Determine the present value of five-year bonds payable with face value of $89,000 and stated interest rate of 12%, paid semiannually. The market rate of interest is 12% at issuance. (Round intermediary calculations and final answer to the nearest whole dollar) Present Value When market rate of interest is 12% annually Requirements 1. Determine the present value of five-year bonds payable with face value of $89,000 and stated interest rate of 12%, paid semiannually. The market rate of interest is 12% at issuance. 2. Same bonds payable as in Requirement 1, but the market interest rate is 14% 3. Same bonds payable as in Requirement 1, but the market interest rate is 8%