TC Associates issued 3,400 of its $1,000,9%,5-year par value bonds. There are no bond issue costs. Interest is paid annually. The market rate on the date of issue was 11%. The narket price of PTC common shares on the date that the bonds are issued is $90 per share. The bonds were sold with 102,000 warrants to acquire 102,000 shares of the company' $2 par value common stock for $80 per share. That is, each bond carries 30 warrants. PTC has existing bonds outstanding that trade without warrants at $910. There are other PTC warrants outstanding that trade for $80 each. Future Value of $1 table Future Value of an Ordinary Annuity table Future Value of an Annuity Due table Present Value of $1 table Present Value of an Ordinary Annuity table Present Value of an Annuity Due table Read the requirements. Requirements Requirement a. Determine the issue price of the bonds. (Use the present value calculations. If using present and future value tables or the formula method, use whole dollar.) The issue price of the bonds = a. Determine the issue price of the bonds. b. Prepare the journal entry to record issuance of the bonds assuming that the warrants are nondetachable c. Prepare the journal entry to record the issuance of the bonds assuming that the warrants are detachable using the proportional method. d. Prepare the journal entry to record the issuance of the bonds assuming that the warrants are detachable using the incremental method. Assume that the fair value of the bonds is more reliable. e. Assuming that the incremental method is used prepare the journal entry required to record the exercise of all warrants