Enviro Company issues 8%, 10-year bonds with a par value of $230,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87 12. The straight-line method is used to allocate interest expense 1. Using the implied selling price of 87 2, what are the issuer's cash proceeds from issuance of these bonds? Cash proceeds $ 201,250 2. What total amount of bond interest expense will be recognized over the life of these bonds? Total Bond Interest Expense Over Life of Bonds Amount repaid: 20 payments of Par value at maturity Total repayments Less amount borrowed (from part 1) Total bond interest expense 0