Dear professor, my question is like that:

Dear sir or madam, My question is like that On January 1, 2018, Corp X issued 3%, 3 year Bonds to the public, and alsosigned a 3 and 1/2 -year lease with PH Corp. Payments of $10,000 on the lease are made at the end of the year for years 1,2 and3 and ($5,000 in the last period; year 4.) There are no provisions for a bargain purchase or an extension of the lease term. The asset has a fair value of $35,000 and has a useful economic life of 4 years.

Corp.X is rated as a BBB rated company by Moody's Investors-a rating company. (DO NOT USE THE IRR AS THE LEASE INTEREST RATE for the lease calculations-use another interest rate).

Additional Facts

1-BBB Market Interest rates:

Date of issueon 12/31/2019

Year 12%1.5%

Year 22.5%2.0%

Year 32.75%2.5%

Year 43,5%3.0%

Year 54.0%.4.0%

1-Calculate the market interest rate at date of issue?

2-Calculate the price of the bond at the date of issue?

3-What is the interest expense in Year 1.

4-What is the Balance Sheet value of Bonds payable on 12/31/19? Please provide 2 answers.