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Sun City issues $55 million of bonds on January 1, 2021 that pay interest semiannually...

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Accounting

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Sun City issues $55 million of bonds on January 1, 2021 that pay interest semiannually on June 30 and December 31 A portion of the bond amortization schedule appears below Cash Paid interest Expense Date 01/01/2021 06/30/2021 12/31/2021 Decrease in Carrying Value $64,685 68,158 Carrying Value $63,825,369 63,760,764 63,692,606 $3,575,000 3,575,000 $3,510,395 3,506,842 Required: 1. Were the bonds issued at face amount, a discount, or a premium? O Face amount O Premium Discount 2. What is the original issue price of the bonds? > Original price 3. What is the face amount of the bonds? noun 4. What is the stated annual interest rate? (Hint: Be sure to provide the annual rate rather than the six-month rate.) Stated annual interest rato % 5. What is the market annual interest rate? (Hint Be sure to provide the annual rate rather than the six-month rate) Market annual interest rate 94 6. What is the total cash paid for interest assuming the bonds mature in 20 years? Interest pald

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