Exercise 10-7 Straight-Line: Amortization of bond premium LO P3 Quatro Co. issues bonds dated January 1, 2017, with a par value of $880,000. The bonds' annual contract rate is 13%, 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 12%, and the bonds are sold for $901,670 s the amount of the premium on these bonds at issuance? much tota bond interest expense will be recognized over the life of these bonds? 2 3 P epare an amortization table for these bonds; use the straight-line method to amortize the premium. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 is the amount of the premium on these bonds at issuance? 21,670 Required 2> K Prev 18 of 21 EE Next