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Jackson Corporation needs funding for a proposed expansion. Jackson is planning to issue bonds with a face value of $$102,500$ and a coupon rate of $6$ percent. The bonds mature in seven years. Interest is paid once a year annually on December $31.$ All the bonds will be sold on January $1$ of the current year. $($FV of $$1,$ PV of $$1.$ FVA of $$1,$ and PVA of $$1)$

Note: Use your financial calculator or the appropriate factor$($s$)$ from the tables provided.

Required:

Compute the issue $($sales$)$ price on January $1$ of this year for each of the following independent cases:

a$.$ Case A: Market interest rate $($annual$)$: $6$ percent.

b$.$ Case B: Market interest rate $($annual$)$: $4$ percent.

c$.$ Case C: Market interest rate $($annual$)$: $7$ percent.