DJN Corporation wished to raise money for a series of upcoming projects. On July $1,2023,$ the company issued bonds with a face

value of $$4,918,000$ due in $5$ years, paying interest at a face rate of $6\%$ on January $1$ and July $1$ each year. The bonds were issued to

yield $4\%.$ DJN used the effective interest method of amortization for bond discounts or premiums. The company's year$-$end was

September $30.$

Click here to view the factor table PRESENT VALUE OF $1.$

Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF $1.$

$($a$)$

Using $1.$ factor Tables $2.$ a financial calculator, or $3.$ Excel function PV$,$ calculate the premium or discount on the bonds. $($Round

present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places e$.$g$.58,971.)$

on bonds payable