1. (25 points) A company is going to issue bonds at an interest rate of 6% paid annually with a term of 5 years. The bond issue would be for $500,000. When the bond issue goes to market, market interest rates for bonds of similar risk pay an interest rate of 8%. Provide the following: i. Amount of cash the company will receive at the time of sale, ignoring underwriting and brokerage costs: ii. What is the amount of interest the company would pay in cash to its bondholders in the first year? iii. What is the amount of interest expense the company would recognize at the end of the first year? iv. If the market interest rate is 6%, the company will receive how much in cash when the bonds are sold, again ignoring underwriting and brokerage costs