Concord Hills Ltd. issued five-year bonds with a face value of $180,000 on January 1. The bonds have a coupon interest rate of 5% and interest is paid semi-annually on June 30 and December 31. The market interest rate was 3% when the bonds were issued at a price of 108. (c) Determine the balance in the Bonds Payable account immediately following the first interest payment. Balance in bonds payable account $