14-7 On 1/1/2017 Quatro Co. issues 13%, three-year, semiannual interest paying bonds with a par value of $300,000. The annual market rate at the time of issuance is 12% and the bonds are sold for $307,388. 1. What is the amount of the discount on the bonds at issuance? 2. How much bond interest expense will be recognized over the life of the bonds? 3. Prepare an amortization table like the one in Exhibit 14-11 for these bonds; use the straight-line method to amortize the discount