Exercise 14-2 Straight-Line: Amortization of bond discount LO P2 Tano issues bonds with a par value of $88,000 on January 1, 2017. The bonds' annual contract rate is 10%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The and the bonds are sold for $83,676. annual market rate at the date of issuance is 12% 1. What is the amount of the discount on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare an amortization table using the straight-line method to amortize the discount for these bonds Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required3 How much total bond interest expense will be recognized over the life of these bonds? Total Bond Interest Expense Over Life of Bonds Amount repaid payments of Par value at maturity Total repaid