Calculations Marketing Inc. issued $8\mathrm{.}5\%$ bonds with a par value of $$380,000$ and a five$-$year life on January $1,2023,$ for $$387,705.$ The bonds pay interest on June $30$ and December $31.$ The market interest rate was $8\%$ on the original issue date. Use TABLE $14$A$\mathrm{.}1$ and TABLE $14$A$\mathrm{.}2.($Use appropriate factor$($s$)$ from the tables provided.$)$

Required:

$1.$ Calculate the total bond interest expense over the life of the bonds.

$2.$ Prepare an amortization table using the effective interest method. $($Do not round intermediate calculations. Round the final answers to the nearest whole dollar.$)$

$3.$ Show the journal entries that Calculations Marketing Inc. would make to record the first two interest payments assuming a December $31$ year$-$end. $($Do not round intermediate calculations. Round the final answers to the nearest whole dollar.$)$

$4.$ Use the original market interest rate to calculate the present value of the remaining cash flows for these bonds as of December $31,2025.$ Compare your answer with the amount shown on the amortization table as the balance for that date. $($Do not round intermediate calculations. Round the final answers to the nearest whole dollar.$)$