Calculations Marketing Inc. issued $9\mathrm{.}5\%$ bonds with a par value of $$470,000$ and a five$-$year life on January $1,2020,$ for $$498,591.$ 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:

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

Total interest expense

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

$\backslash$table$[[\backslash$table$[[$Period$],[$Ending$]],$Cas,$\backslash$table$[[$nterest$],[$aid$]],,,,,,\backslash$table$[[$rtized$],[$ium$]],$Carr,ig Value$],[$Jan$.\frac{1}{20},$$$,0,$$$,0,$$$,0,$$$,28,591,$$$,498,591],[$June $30/20,,22,325,,,,,,,,],[$Dec$.\frac{31}{20},,22,325,,,,,,,,],[$June $30/21,,22,325,,,,,,,,],[$Dec$.31/21,,22,325,,,,,,,,],[$June $30/22,,22,325,,,,,,,,],[$Dec$.31/22,,22,325,,,,,,,,],[$June $30/23,,22,325,,,,,,,,],[$Dec$.\frac{31}{23},,22,325,,,,,,,,],[$June $30/24,,22,325,,,,,,,,],[$Dec$.31/24,,22,325,,,,,,0,,0],[$Totals$,$$$,223,250,$$$,0,$$$,0,,,,]]$