1. 3. Determine the total interest expense for Year 1. $ titl wh 1 4. Will the bond proceeds always be less than the face amount of the bonds when the contract rate is less than the market rate of interest? 3 Yes O No 5. Compute the price of $25,010,623 received for the bonds by using the tables shown in Present Value Tables. Round to the nearest dollar. 2 Present value of the face amount $

3. Determine the total interest expense for Year 1. 4. WiI the bond proceeds aways be less than the face amount of the bonds when the contract rate is less than the market rate of interest? Yes No 5. Compute the price of $25,010,623 received for the bonds by using the tables shown in Present Value Tables. Round to the nearest dollar. 3. Determine the total interest expense for Year 1. 4. WiI the bond proceeds aways be less than the face amount of the bonds when the contract rate is less than the market rate of interest? Yes No 5. Compute the price of $25,010,623 received for the bonds by using the tables shown in Present Value Tables. Round to the nearest dollar