QUESTION 17 3. XYZ Co. issued bonds with a face value of $2,000,000 for $1,960,000. Most likely, The bonds had a stated (contract) rate below the market rate for similar bonds. a. b. The bonds had a stated (contract) rate in excess of the market rate for similar bonds. The credit risk on the bonds was low relative to the overall market. c. d. The bonds had a stated (contract) rate equal to the market rate for similar bonds