Amazon.com Inc. issued 1,000 bonds with a face value of $1,000 each, carrying an annual coupon rate of 7%. The bonds have a maturity period of 10 years. If the market interest rate is 6%, determine the issue price per bond and calculate the total cash proceeds generated from the bond issuance. Additionally, compute the interest expense to be recognized in the first year if Amazon uses the effective interest rate method for amortization.