Do Homework Take a Quia/Test Berkley Bank has $500,000 of 6% deberhure bonds outstanding. The bonds were issued at 104 in 2018 and mature in 2038. The bonds have annual interest payments Read the requirements Requirement 1. How much cash did Berkley Bank receive when it issued these bonds? Berkley Bank received at bond issuance. E y be colors and then click Check An Check Awer Type here to search *QWERTYUIOPI come back ASDFGHJKL W ents. i Requirements How much cash did ceived $ 1. How much cash did Berkley Bank receive when it issued these bonds? 2. How much cash in total will Berkley Bank pay the bondholders through the maturity date of the bonds? 3. Calculate the difference between your answers to requirements 1 and 2. This difference represents Berkley Bank's total interest expense over the life of the bonds. 4. Compute Berkley Bank's annual interest expense using the straight-line amortization method. Multiply this amount by 20. Your 20-year total should be the same as your answer to requirement 3. Print Done number in the edit fields a Clear All Check AI maining O BL e earch 99. 9 s