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On June 30, 2021, Singleton Computers issued 8% stated rate bonds with a face amount of $100 million. The bonds mature on June 30, 2036 (15 years). The market rate ofinterest for similar bond issues was 7% (3.5% semiannual rate). Interest is paid semiannually (4.0%) on June 30 and December 31, beginning on December 31, 2021. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD i $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price of the bonds on June 30, 2021. 2. Calculate the interest expense Singleton reports in 2021 for these bonds using the effective interest method. Complete this question by entering your answers in the tabs below. Required 1 -Required 2 Determine the price of the bonds on June 30, 2021. (Enter your answers in whole dollars. Round percentage answers to one decimal place. Round your final answers to nearest whole dollar amount.) Interest $ 4,000,000 Principal $ 100,000,000 Price of bonds On June 30, 2021, Singleton Computers issued 8% stated rate bonds with a face amount of $100 million. The bonds mature on June 30, 2036 (15 years). The market rate of interest for similar bond issues was 7% (3.5% semiannual rate). Interest is paid semiannually (4.0%) on June 30 and December 31, beginning on December 31, 2021. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD 1%) (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price of the bonds on June 30, 2021. 2. Calculate the interest expense Singleton reports in 2021 for these bonds using the effective interest method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the interest expense Singleton reports in 2021 for these bonds using the effective interest method. (Enter your answers in whole dollars. Round your nal answers to nearest whole dollar amount.) 06I30I2021 121312021