Exercise 109 (Algo) Straight-Line: Amortization of bond premium LO P3 Quatro Company issues bonds dated January 1,2021 , with a par value of $870,000. The bonds' annual contract rate is 9%, 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 8%, and the bonds are sold for $892,789. 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare a straight-line amortization table for these bonds. Complete this question by entering your answers in the tabs below. How much total bond interest expense will be recognized over the life of these bonds