Requirements 1. Determine the present value of ten-year bonds payable with face value of $88,000 and stated interest rate of 10% paid semiannually. The market rate of interest is 10% at issuance. 2. Same bonds payable as in Requirement 1, but the market interest rate is 16%. 3. Same bonds payable as in Requirement 1, but the market interest rate is 8%. Requirement 1. Determine the present value of ten-year bonds payable with face value of $88,000 and stated interest rate of 10%, paid semiannually. The market rate of interest is 10% at issuance. (Round in calculations and final answer to the nearest whole d Present Value when market rate of interest is 10% annually