Eagle Corporation issued $$9,950,000,6$ percent bonds dated April $1,$ year $1.$ The market interest rate was $7$ percent, with interest paid each March $31.$ The bonds mature in three years, on March $31,$ year $4.$ Eagle's fiscal year ends on December $31.$ Use Table $8$ C$\mathrm{.}1,$ Table $C_2.$

Required:

What was the issue price of these bonds? $($Round time value factor to $4$ decimal places. Round the final answer to the nearest whole dollar.$)$

Bond issue price

$ $9,688,892$

Compute the interest expense for the period ended December $31,$ year $1.$ The company uses the effective$-$interest method of amortization. $($Round time value factor to $4$ decimal places. Round intermediate and final answer to the nearest whole dollar.$)$

Interest expense

$ $,508,666$

Show how the bonds should be reported on the statement of financial position at December $31,$ year $1.($Round intermediate and final answer to the nearest whole dollar.$)$

EAGLE CORPORATION

As of December $31,$ Year $1$

$\backslash$table$[[$Statement of financial position:,$],[$Bonds payable,$$,180,226x$