15.The long-term liability section of Twin Digital Corporations balance sheet as of December 31, 2015, included 12% bonds having a face amount of $40 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 14%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2016, Twin Digital retired the bonds at 103 ($41.2 million) before their scheduled maturity.