Chapter 9: Long-Term Liabilities PNW company issues 6% 5-year bonds with a total face amount of $1,000,000 with interest paid semi- annually. The market rate of interest is 6.1% n % PV PVA 5 6.00% 0.74726 4.2124 5 6.10% 0.74374 4.2009 10 3.00% 0.74409 8.5302 10 3.05% 0.74049 8.5085 1 What is the issue price of the bond? 2 Record the issuance of the bond. Debt Credi What was the amount of the premium or discount? 3 What is the interest expense for the first interest payment? 4 What is the bond liability after the first interest payment