Bramble Company issued $$970,000$ of $9\%,5-$year bonds at $107.$ Interest is paid annually, and the effective interest method is used for amortization. Assume that the market rate for similar investments is $7\%.$ The bonds are issued on the date of the bonds.

$($a$)$

Correct Answer $($Used$)$

What amount was received for the bonds?

Amount received $

$($b$)$

Your answer is incorrect.

How much interest is paid each interest period?

Interest paid $