Accounting for Bonds Sold at a Discount The Peoples National Bank raised capital through the sale of $100 million face value of four percent coupon rate, ten-year bonds. The bonds paid interest semiannually and were sold at a time when equivalent risk-rated bonds carried a yield rate of six percent. Round all answers to the nearest whole number. a. Calculate the proceeds that The Peoples National Bank received from the sale of the six percent bonds. $ 0 x b. Calculate the interest expense on the bonds for the first year that the bonds are outstanding. $ 0 X C. Calculate the book value of the bonds at the end of the first year. $ 0 x