Tano issues bonds with a par value of $87,000 on January 1, 2017. The bonds' annual contract rate is 7%, and interest is po semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issue and the bonds are sold for $80,375. Paulson Company issues 6%, four-year bonds, on December 31, 2017, with a par value of $105,000 Tano issues bonds with a par value of $87,000 on January 1, 2017. The bonds' annual contract rate is 7%, and interest is po semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issue and the bonds are sold for $80,375. Paulson Company issues 6%, four-year bonds, on December 31, 2017, with a par value of $105,000