bonds pay interest semiannually each June $30$ and December $31$ and mature on December $31,2041.$

Required: assuming that the premium of $$3,600,000$ is amortized on a straight$-$line basis. the straight$-$line method of premium amortization? Explain. to answer $a.$ What causes the stated rate to be different from the market rate, and why is the difference likely to be much less than depicted in this problem?