ABC company issues bonds dated January 2, with a par value of 500,000. The annual contract rate is 13% and interest is paid semi-annually on June 30 and December 31. The bonds mature in 3 years. The annual market rate at the date of issuance is 12% and the bonds are sold for 512,009. A. What is the amount of premium on these bonds at issuance? B. How much total bond interest will be recognized over the life of these bonds?