7 Exercise 14-15 Allocation of interest for bonds sold at a premium LO6 10 points 02:05:35 Book Print References Tahoe Tent Ltd. issued bonds with a par value of $820,000 on January 1, 2020. The annual contract rate on the bonds was 15.50% and the interest is paid semiannually. The bonds mature after three years. The annual market interest rate at the date of issuance was 13.50%, and the bonds were sold for $859,389. a. What is the amount of the original premium on these bonds? (Use financial calculator for calculating PV's. Round the final answer to the nearest whole dollar.) Premium b. How much total bond interest expense will be recognized over the life of these bonds? (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) Total interest expense: Check my work