McVay Corporation issued $100,000 of 4.5%, 10-year bonds. The bonds are dated and sold on January 1,2015. Interest payment dates are January 1 and July 1. The bonds are issued to yield the market interest rate of 5%. Use the effective-interest method to answer these questions: 1. what is the price of the bonds? 2. what is the amount of interest expense that McVay Corporation will record on July 1, 2015, the first semiannual interest payment? 3. what is the amount of discount amortization that McVay corporation will record on July 1, 2015 the first semiannual interest payment date? 4. What is the total cash payment for interest for each 12-month period? 5. What is the carrying amount of the bonds on the January 1, 2016, balance sheet? 5. using straight line amortization, the carrying amount of McVay corp's bonds at December 31,2015 is?