Requirement Determine the bond issue proceeds for each of the following bonds payable. All bonds are issued on January 1, 2019. Brandy Corporation issued bonds in the amount of $1,220,000 that will be paid in 8 years. Interest of $12,200 is payable semiannually each June 30 and December 31 with the first interest payment at the end of the first period on June 30, 2019. If the market rate of interest is 12%, what is the amount of the bond issue proceeds? Trailor Corporation issued bonds in the amount of $4,300,000 that will be paid in ten years. Interest of $86,000 is payable semiannually each June 30 and December 31 with the first interest payment at the end of the first period on June 30, 2019. If the market rate of interest is 6%, what is the amount of the bond issue proceeds? a. b