1. George Inc. sold a bond for $637,483 when the face of the bond was 550,000. The interest rate on the bond was 8% when the market was 6%. The bond term is 10 years and interest is paid semi annually on June 30 and December 31. Using the information above answer the following questions a. Did the bond issue at a premium, discount or face value?( 2pts) b. Over 10 years will the carrying value of the bond increase or decrease?(2pts) c. If the bond was issued on January 1, 2020, what will be the carrying value of the bond On June 30, 2021.(2pts) Cash paid Interest expense Bond payable Carrying value Date