Culver Company issued $ 990,000 of 8%, 5-year bonds at 102. Interest is paid annually, and the effective interest method is used for amortization. Assume that the market rate for similar investments is 7%. The bonds are issued on the date of the bonds. (a) Correct answer icon Your answer is correct. What amount was received for the bonds? Amount received $ enter a dollar amount received 1009800 Attempts: 1 of 2 used (b) How much interest is paid each interest period? Interest paid $ enter interest paid in dollars