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Crane Products L td . issued $ 3 . 2 8 million of 5 % , 5 - year bonds on January 1 , 2

Crane Products L td. issued $3.28 million of 5%,5-year bonds on January 1,2024. The bonds were dated January 1 and pay interest annually. There is no collateral secured against the bonds and Crane Products may buy back the bonds at any time. The market interest rate was 6% for these bonds. Crane has a calendar year end.
Click here to view the factor table. Present Value of 1
Click here to view the factor table. Present Value of an Annuity of 1
(b)
Answer to 0 decimal places, eg.1,5
Preparw an effective interest amortization table for these bonds
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