Exercise 14-7 Straight-Line: Amortization of bond premium LO P3 Quatro Co. issues bonds dated January 1, 2017, with a par value of $760,000. 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 annual market rate at the date of issuance is 8%, and the bonds are sold for $799,828. 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 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 What is the amount of the premium on these bonds at issuance? Required 2 Quatro Co. issues bonds dated January 1, 2017, with a par value of $760,000. The bonds' annual contract rate is t nnualy on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of ssuance is 8%, and the bonds are sold for $799,828. 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 an amortization table for these bonds, use the straight-ine method to amortize the premium. Complete this question by entering your answers in t he tabs below. Required 1 Required 2 Required3 Prepare an amortization table for these bonds use the straight-line method to amortize the premium. (Round your Semiannual Interest Un Period-End 01/01/2017 06/30/2017 12/31/2017 06/30/2018 12/31/2018 Premium Value