D 1. On 1/1/2001, Johnson Electric issued bonds with a total face value of $10,000,000. The bonds mature on 12/30/2020 (20-year bonds) and pay 7% annual interest rate. Interest payments are made annually each 12/31, beginning on 12/31/2001. The market interest rate for these bonds is 8%. Johnson's fiscal year ends on 12/31. What is the issue price of these bonds? $9,018,185 $10,000,000 $11,059,401 $4,727,221 None of these are correct D 2. On 1/1/2001, Johnson Electric issued bonds with a total face value of $10,000,000. The bonds mature on 12/30/2020 (20-year bonds) and pay 7% annual interest rate. Interest payments are made annually each 12/31, beginning on 12/31/2001. The market interest rate for these bonds is 8%. Johnson's fiscal year ends on 12/31. What is interest expense for 2001? $721,455 $700,000 $800,000 $774,158 None of these are correct