Exercise $10-4($Algo$)$ Straight$-$Line: Amortization of bond discount LO P$2$

Tano Company issues bonds with a par value of $$90,000$ on January $1,2021.$ The bonds' annual contract rate is $8\%,$ and interest is paid semiannually on June $30$ and December $31.$ The bonds mature in three years. The annual market rate at the date of issuance is $10\%,$ and the bonds are sold for $$85,431.$

What is the amount of the discount on these bonds at issuance?

How much total bond interest expense will be recognized over the life of these bonds?

Prepare a straight$-$line amortization table for these bonds.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Required $3$

How much total bond interest expense will be recognized over the life of these bonds?

$\backslash$table$[[$Total Bond Interest Expense Over Life of Bonds:$],[$Amount repaid:$],[6$ payments of$,$$$,3,600,$$$,21,600],[$Par value at maturity,,$3,600],[$Total repaid,$5,,,25,200],[$Less amount borrowed,,,,$1,248],[$Total bond interest expense,$8,,$$$,23,952]]$