1. On January 1, 2009, Comet Company purchased a building for $50,000, making a cash down payment of $8,000 and signing a note requiring six equal semi-annual payments for the balance. Payments are to be made on June 30 and December 31. The implicit interest rate is 8%, compounded semiannually. A. Compute the amount of the six equal semiannual payments. (2pt.) $ (Round answer to the nearest dollar amount) B. How much interest expense will Comet Co. record on the note for the rst year? (2pt) (Hint: Use the following amortization table to help you find the interest for each 6month period.) Date Cash Payment Interest Expense Reduction of Carrying Value Issuance