Compute Bond Proceeds, Amortizing Discount by Interest Method, and Interest Expense Lewis Co. produces and sells aviation equipment. On the first day of its fiscal year, Lewis Co. issued $70,000,000 of three-year, 11% bonds at a market (effective) interest rate of 13%, with interest payable semiannually. Compute the following: The amount of cash proceeds from the sale of the bonds. Use the tables of present values in Exhibit 4 and Exhibit 5. Round to the nearest dollar. $ ____________ The amount of discount to be amortized for the first semiannual interest payment period, using the interest method. Round to the nearest dollar. $ ___________ The amount of discount to be amortized for the second semiannual interest payment period, using the interest method. Round to the nearest dollar. $ ______________ The amount of the bond interest expense for the first year. Round to the nearest dollar. $ ______________