A city has financed a local project with a $800,000 bond issue with a coupon rate of 5% compounded semi-annually. The bonds are redeemable in 15 years. At the same time, a sinking fund earning interest at 6.2% compounded semi-annually is established to accumulate the full $800,000 when the bonds mature in 15 years. Paragraph BI U a) Find the periodic expense of the debt. I payment=800000* BGN/END end N I/Y P/Y C/y PV PMT FV b) What is the book value of the debt after 7 years