City Bank has $350,000 of 6% debenture bonds outstanding. The bonds were issued at 102 in 2016 and mature in 2036. The bonds have annual interest payments. Requirements 1. How much cash did City Bank receive when it issued these bonds? 2. How much cash in total will City Bank pay the bondholders through the maturity date of the bonds? 3. Calculate the difference between your answers to requirements 1 and 2. This difference repesents City Bank's total interest expense over the life of the bonds 4. Compute City Bank's annual interest expense by the straight-line amortization method. Multiply this amount by 20. Your 20-year total should be the same as your answer to requirement 3 Requirement 1. How much cash did City Bank receive when it issued these bonds? City Bank receivedLatbond issuance. Requirement 2. How much cash in total will City Bank pay the bondholders through the maturity date of the bonds? City Bank will pay the bondholders S Requirement 3. Calculate the difference between your answers to requirements 1 and 2. This difference represents City Bank's total interest expense over the life of the bonds The difference between your answers to requirements 1 and 2 is $ Requirement 4. Compute City Bank's annual interest expense by the straight-line amortization method. Multiply this amount by 20. Your 20-year total should be the same as your answer to requirement 3 City Bank's annual interest expense by the straight-line amortization method is S through the maturity date of the bonds