Enviro Company issues $11\mathrm{.}50\%,10-$year bonds with a par value of $$320,000$ and semiannual interest payments. On the issue date, the annual market rate for these bonds is $8\mathrm{.}50\%,$ which implies a selling price of $125\mathrm{.}125.$ The straight$-$line method is used to allocate interest expense$\mathrm{.}1.$ What are the issuer's cash proceeds from issuance of these bonds?$2.$ What total amount of bond interest expense will be recognized over the life of these bonds?$3.$ What is the amount of bond interest expense recorded on the first interest payment date?