Ellis issues 8.0%, five-year bonds dated January 1, 2017, with a $530,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $575,213. The annual market rate is 6% on the issue date. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided.) Required: 1. Compute the total bond interest expense over the bonds' life. 2. Prepare an effective interest amortization table for the bonds life. 3. Prepare the journal entries to record the first two interest payments. 4. Use the market rate at issuance to compute the present value of the remaining cash flows for these bonds as of December 31, 2019.

I keep getting the values wrong for bond interest expense and amortization values. Please explain

Required 1 Required 2 Required 3 Required 4 Compute the total bond interest expense over the bonds' life. Total bond interest expense over life of bonds: Amount repaid 10 payments of $ 21,200 $ Par value at maturity Total repaid Less amount borrowed Total bond interest expense $ 212,000 530,000 742,000 575,213 166,787 Required Required 2 > Required 1 Required 2 Required 3 Required 4 Prepare an effective interest amortization table for the bonds' life. Unamortized Premium Carrying Value $ 45,213 $ 575,213 40,692 Semiannual Period- Cash Interest Bond Interest Premium End Paid Expense Amortization 01/01/2017 06/30/2017 $ 21,200 $ 4,521 $ 9,043 12/31/2017 21,200 06/30/2018 12/31/2018 06/30/2019 12/31/2019 06/30/2020 12/31/2020 06/30/2021 12/31/2021 Total Required 1 Required 2 Required 3 Required 4 Prepare the journal entries to record the first two interest payments. View transaction list View journal entry worksheet No Debit Credit 1 Date General Journal Jun 30, 2017 Bond interest expense Premium on bonds payable Cash 21,200 2. Dec 31, 2017 Bond interest expense Premium on bonds payable Cash 21,200 Required 1 Required 2 Required 3 Required 4 Use the market rate at issuance to compute the present value of the remaining cash flows for these bonds as of December 31, 2019. (Round table values to 4 decimal places, and use rounded values in all calculations.) Table values are based on: 5 8.0% Table Cash Flow Value Par (maturity) value Interest (annuity) Price of bonds Amount Present Value