Garcia Company issues 10%, 15-year bonds with a par value of $160,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%, which imples a selling price of 117 14. The effective interest method is used to allocate interest expense. 1. Using the implied selling price of 117 v4, what are the issuer's cosh proceeds from issuance of these bonds? 2. What total amount of bond interest expense will be recognized over the life of these bonds? 3. What amount of bond interest expense is recorded on the first interest payment date? Complete this question by entering your answers in the tabs below. Required Tequired 2 Required Using the impled selling price of 117 1/4, what are the issuer's cach proceeds from Issuance of these bonds? Required 2 >