On August 1, 2011 Blancard Inc. Issued $250,000 of 10%, seven year bonds. Interest is to be paid semi-annully. Calulate the issue price of the bond if the market interest rate was 12%.

I googled "bond issue price calculation", and found this example which may help:

Qn: A company issues $500,000 of 9% bonds that pay interest semiannually and mature in 10 years. Calculate the bond issue price assuming the bond's market rate is 8% per year. I have a calculator that can solve it, but I'm not sure which values go where.

Answer: To calculate the price of the bond, we’ll use the following symbols:
(pv1,i,n) = present value of $1 discounted at i%, n periods from the present
(pva,i,n) = present value of an annuity of $1 discounted at i%, for n periods

The price of the bond is $500,000(pv1, 4%,20) + 9%(0.5)($500,000)(pva, 4%, 20)
Using the npv tables attached, this
= $500,000(0.45639) + 9%(0.5)($500,000) (13.59033)
= $228,195 + $305,782.43
= $533,977.43

The answer may be out by a few dollars depending on the number of decimals used.