A company must repay the bank a single payment of $22,000 cash in 4 years for a loan it entered into. The loan is at 8% interest compounded annually. The present value factor for 4 years at 8% is .7350.The present value of an annuity factor for 4 years at 8% is 3.3121.The present value of the loan (rounded) is: Multiple Choice $16,170. $22,000. $23,770. $6,642. $72,866. On January 1 of Year 1, Congo Express Airways issued $5,200,000 of 7%, bonds that pay interest semiannually on January 1 and July 1. The bond issue price is $4,836,000 and the market rate of interest for similar bonds is 9%. The bond premium or discount is being amortized using the straight-line method at a rate of $13,000 every 6 months. The life of these bonds is: Multiple Choice 28 years. 40 years. 37 years 11 years. 14 years. A company issued 5-year, 7% bonds with a par value of $800,000. The market rate when the bonds were issued was 6.5%. The company received $808,000 cash for the bonds. Using the straight-line method, the amount of recorded interest expense for the first semiannual interest period is: Multiple Choice $28,000. $56,000. $55,200. $27,200. $28,800