Exercise 14-15 Allocation of Interest for bonds sold at a premium L06 CHECK FIGURES: 1. Total interest expense = $247,394 Tahoe Tent Ltd. issued bonds with a par value of $800,000 on January 1, 2020. The annual contract rate on the bonds was 12%, and the interest is paid semiannually. The bonds mature after three years. The annual market interest rate at the date of issuance was 10%, and the bonds were sold for $840.606. a. What is the amount of the original premium on these bonds? b. How much total bond interest expense will be recognized over the life of these bonds? c. Present an amortization table for these bonds (similar to Exhibit 14.15, use the effective interest method of allocating the interest and amortizing the premium