Data Table Note 6. Indebtedness Bonds payable, 3% due on December 31, Year 8.. $2,500,000 Less: Discount .... Notes payable, 7%, payable in $40,000 annual installments starting in Year 5 Requirement 1. Assume the market interest rate is 7% on January 1 of year 1, the date the bonds are issued. (Round your answers to the near a. Using the PV function in Excer, what is the issue price of the bonds? The issue price of the bonds is $ 3201969 b. What is the maturity value of the bonds? The maturity value of the bonds is $ 2,500,000 c. What is Friendship's annual cash interest payment on the bonds? The annual cash interest payment is $ 175,000 The carrying amount of the bonds at December 31, Year 1 is $ Requirement 2. Prepare an amortization table through December 31, Year 4 for the bonds. (Round all amounts to the nearest dollar.) How muc Begin by preparing the amortization table through December 31, Year 4 for the bonds. (Round your answer to the nearest whole dollar.) Friendship Ltd. Amortization Table Annual Interest Interest Discount Discount Account Bond Carrying Interest Date Payment Expense pense Amortization Balance Amount Jan 1, Yr 1 Dec 31, Yr 1 Dec 31, Yr 2 Dec 31, Yr 3 Dec 31, Yr 4 How much is Friendship's interest expense on the bonds for the year ended December 31, Year 4? $