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need help solving, thank you! Champ Ltd. is authorized to issue $3,000,000 of 15%, 10-year bonds payable. On December 2021, when the market interest rate

image text in transcribedneed help solving, thank you!

Champ Ltd. is authorized to issue $3,000,000 of 15%, 10-year bonds payable. On December 2021, when the market interest rate is 5%, the company issues 52,400,000 of the bonds. Champ amortizes bond discount using the effective-interest method. The semiannual interest dates are June 30 and December 31. Read the requirements. Requirement 1. Use the PV function in Excel to calculate the issue price of the bands. (Round your answer to the nearest whole dollar.) The issue price of the bonde is Requirements 1. Use the PV function in Excel to calculate the issue price of the bonds 2. Prepare a bond amortization table for the first year of the bonds. 3. Record the issuance of the bonds payable on December 31, 2021; the first semiannual interest payment on June 30, 2022; and the second payment on December 31, 2022. Print Done

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