Exercise 10-3A Computing bond Interest and price; recording bond Issuance LO C2 Bringham Company issues bonds with a par value of $640,000 on their stated issue date. The bonds mature in 6 years and pay 7% annual interest in semiannual payments. On the issue date, the annual market rate for the bonds is 10% (Table B1. Table B.2. Table B.3, and Table B.4) (Use approprlate factor(s) from the tables provided.) 1. What is the amount of each semiannual interest payment for these bonds? 2 How many semiannual interest payments will be made on these bonds over their life? 3. Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium. 4. Compute the price of the bonds as of their issue date. 5. Prepare the journal entry to record the bonds' issuance. Complete this question by entering your answers in the tabs below. Req 1 to 3 Req 4 Reg 5 What is the amount of each semiannual interest payment for these bonds? How many semiannual interest payments will be made on these bonds oer their ife? Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium. Semiannual Rate Semiannual cash interest payment Par (maturity) value 640,000 S 3.5 % 22,400 Number of payments 12 Whether the bonds are issued at par, at a discount or at a premium? At a discount Req 4> Complete this question by entering your answers in the tabs below. Req 1 to 3 Req 4 Req 5 Compute the price of the bonds as of their issue date. (Round all table values to 4 decin values in calculations. Round intermediate calculations to the nearest dollar amount.) Table Values are Based on: n = Cash Flow Table Value Amount Present Value Par (maturity) value Interest (annuity) Price of bonds