Birmingham Steel Company lsues bonds as follows: (10 points) Date of sale: 12/31/2000 $100,000, 12% debenture bonds, maturing on 1 The effective market interest rate is 13% 2/31/2005 Birmingham Steet records the following journal entry to record the sale on December 31, 2000: Debit Credit Cash (Discount or Premium) on Bonds Payable 3.594 100,000 Bonds Payable go400 1. What is the present value of the Bihingham Steel Bonds? (Note: you DO NOT need to perform any calcutations) (2 points) 2. Were the bonds sold at a Premium or Discount? (2 points) 3. Show the proper Balance Sheet Presentation of the Bonds Payable: (Face amount adjusted for discountpremium to show Carry Value) (2 points) 4. Assurne the bond holders are paid semi-annually, what amount of cash will the bond holders receive on their first semi-annual interest payment? (2 points) 5. Assume the bond holders are paid semi-annually, what amount of discount or premium wakamorized on the first semi-annual interest payment? (2 points)