TB Ex Qu$.9-255($Algo$)$ On January $1,2024,$ a company issues...

On January $1,2024,$ a company issues $$40\mathrm{.}1$ million of $9\%$ bonds, due in $20$ years, with interest payable semiannually on June $30$ and December $31$ each year.

Required:

$1-$a$.$ If the market rate is $8\%,$ calculate the issue price. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

$1-$b$.$ Will the bonds issue at face amount, a discount, or a premium?

$2-$a$.$ If the market rate is $9\%,$ calculate the issue price. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

$2-$b$.$ Will the bonds issue at face amount, a discount, or a premium?

$3-$a$.$ If the market rate is $10\%,$ calculate the issue price. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

$3-$b$.$ Will the bonds issue at face amount, a discount, or a premium?

Complete this question by entering your answers in the tabs below.

Req $1$a Req $1b$ Req $2a,$ Req $2b$ Req $3b$

If the market rate is $7\%,$ calculate the issue price. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)($Use appropriate factor$($s$)$ from the tables provided. Enter your answers in dollars not in millions $($i$.$e$.,$ $$5\mathrm{.}5$ million should be entered as $5,500,000).$ Round your final answers to the nearest whole dollar.$)$

$\backslash$table$[[$Bond Characteristics,Amount$],[$Face amount,$$,40,100,000$