2. Now Defunct Co., Inc. issued $1,500,250 of 4.15% bonds on July 1 that will pay interest semiannually on January 1 and July 1 and mature in 8.5 years. Assume that the market rate of interest is 4.55% per year. i) Using the 2 Step Method compute the selling price of the bonds. 11) Are the bonds sold at a discount or premium? how can you tell? iii) What is the amount of premium or discount? iv) What is the journal entry for the sale of the bonds by the issuer? Journal Entry ) Debit Credit What is the journal entry to make an interest payment by the seller? Journal Entry Debit Credit