A13-5 Debt Issuance-Interest Expense: Sanderson Corp. issued $20,000,000 of bonds payable on 1 June 20X5. The bonds are 10-year bonds, and bear interest at 5.5% per annum, payable semi-annually each 31 May and 30 November. The bonds were issued to yield 6% per annum. Required: 1. Calculate the proceeds from issuance and interest expense and interest paid for the first six months that the bond is outstanding. 2. Calculate the proceeds from issuance if the yield rate is 8% and the bond is issued on 1 June 20X7, still with the original maturity date. Also calculate interest expense and interest paid for the first six months that the bond is outstanding. 3. Calculate the proceeds from issuance if the yield rate is 4% and the bond is issued on 30 November 20X9, still with the original maturity date. Also calculate interest expense and interest paid for the first six months that the bond is outstanding. 4. Explain why interest expense is different in requirements 1 to 3, even though interest paid is identical