The following information applies to the questions displayed below. On January 1, 2018, Frontier world issues $39.8 million of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. The proceeds will be used build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride. value 10.00 points Required information Required 1-a. If the market rate is 7%. Calculate the issue price. (EV of$1, PV of S1. EVA of$1, and PVA of$1) (use appropriate factor(s) from the tables provided. Do not round interest rate factors. Enter your answers in dollars not in millions. Round "Market interest rate" to 1 decimal place.) Bond Characteristics Amount Face amount Interest payment Market interest rate Periods to maturity Issue price $ 39,800,000 $ 1,592,000 3.5% 30 1-b. The bonds will issue at O Face amount OA Discount A Premium