Exercise 14-7 Calculating the present value of a bond and recording the issuance LO4, 5 Mindsetta Music Inc. Issued bonds on March 1, 2020, with a par value of $350,000. The bonds mature in 15 years and pay 10.50% annual interest in two semiannual payments. On the issue date, the annual market rate of interest for the bonds turned out to be 14% (Use Table 14A1 and Table 14A 2.) (Use appropriate factor(s) from the tables provided.) a. What is the size of the semiannual interest payment for these bonds? Size of semi-annual payment b. How many semiannual interest payments will be made on these bonds over their life? Number of payments