Enviro Company issues 8%, 10-year bonds with a par value of $340,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 7 The straight-line ethod is used t allocate interest expense I. Using the implied selling price of 87 , 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? 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 S14,875 297,500 340,000 637,500 297,500 $ 340,000 Par value at maturity Total repayments Less amount borrowed (from part 1) Total bond interest expense What is the amount of bond interest expense recorded on the first interest payment date? Bond interest expense