Hillside issues $1,400,000 of 5%, 15-year bonds dated January 1, 2016, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,713,594.

2. (a) For each semiannual period, complete the table below to compute the cash payment. Semiannual cash Annual Rate Year Par (maturity) value interest payment 35,000 5.0% 1,400,000 2. (b) For each semiannual period, complete the table below to compute the straight-line premium amortization. Straight-line premium Par (maturity Premium on Bonds Semiannual Bond price amortization value) Payable periods 190,243 6,341 1,713,594 30