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On January 1, 2021, Wildhorse Ltd. issued bonds with a maturity value of $8,600,000 when the market rate of interest was 4%. The bonds have a coupon (contractual) interest rate of 5% and mature on January 1, 2031. Interest on the bonds is payable semi- annually on July 1 and January 1 of each year. The company's year end is December 31. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 * Your answer is incorrect. Calculate the issue price of the bonds. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round inal answer to O decimal places, e.g. 5,275.) Issue Price $ 9303351 e Textbook and Media Interest Payment Interest Expense Premium Amortization $ i $ $ Me A 1 $ 215,000 186067 28933 215,000 186067 29512 215,000 186067 30102 215,000 186067 30704 Bond Amortized Cost $ 9303351 9274418 9244906 9214805 9184101 1 Cash Bonds Payable (To record issuance of bonds.) 1 Interest Expense Bonds Payable LUTE Cash (To record interest payment.) Interest Expense 1 Bonds Payable Cash (To record interest payment.) Dec. 31 ILLA Interest Expense Bonds Payable Interest Payable (To accrue interest expense.) Textbook and Media What amounts would be reported as current and non-current in the liabilities section of Wildhorse Ltd's December 31, 2021 balance sheet? (Round answers to 0 decimal places, e.g. 5,275.) WILDHORSE LTD. Balance Sheet (Partial) December 31, 2021 Current Liabilities Interest Payable $ 215,000 Non-Current Liabilities Bonds Payable 9244906 Date Account Titles and Explanation Debit Credit Jan. 1 Interest Payable Cash (To record interest payment.) Date Account Titles and Explanation Debit Credit Jan. 1 Bonds Payable Cash Gain on Bond Redemption (To record redemption of bonds.) Jan. 1 Bonds Payable Cash (To record maturity of bond.) What will be the total interest payment over the 10-year life of the bonds? What will be the total interest expense over the 10- year life of the bonds? (Round answers to O decimal places, eg. 5,275.) Interest Payment $ 4300000 Interest Expense $ 3596649 Is 3% 6% 1.5% 0.98522 0.97066 0.95632 0.94218 0.92826 0.91454 0.90103 2% 0.98039 0.96117 0.94232 0.92385 0.90573 2.5% 0.97561 0.95181 0.92860 0.90595 0.88385 4% 0.96154 0.92456 0.88900 0.85480 0.97087 0.94260 0.91514 0.88849 0.86261 0.83748 0.81309 0.78941 0.76642 0.74409 0.94340 0.89000 0.83962 0.79209 0.74726 0.70496 8% 0.92593 0.85734 0.79383 0.73503 0.68058 9% 0.91743 0.84168 0.77218 0.70843 0.64993 10% 0.90909 0.82645 0.75131 0.68301 0.62092 0.56447 0.51316 0.88797 0.87056 0.86230 0.84127 0.82075 0.80073 0.78120 0.82193 0.79031 0.75992 0.73069 0.70259 0.67556 3.5% 0.96618 0.93351 0.90194 0.87144 0.84197 0.81350 0.78599 0.75941 0.73373 0.70892 0.68495 0.66178 0.63940 0.61778 0.59689 0.57671 0.55720 0.53836 0.52016 0.50257 0.88771 0.87459 0.86167 0.84893 0.83639 0.82403 0.81185 0.79985 0.78803 0.77639 0.76491 0.75361 0.74247 5% 0.95238 0.90703 0.86384 0.82270 0.78353 0.74622 0.71068 0.67684 0.64461 0.61391 0.58468 0.55684 0.53032 0.50507 0.48102 0.45811 0.43630 0.41552 0.39573 0.37689 0.85349 0.83676 0.82035 0.80426 0.78849 0.77303 0.75788 0.74301 0.72845 0.71416 0.70016 0.64958 0.62460 7% 0.93458 0.87344 0.81630 0.76290 0.71299 0.66634 0.62275 0.58201 0.54393 0.50835 0.47509 0.44401 0.41496 0.38782 0.36245 0.33873 0.31657 0.29586 0.27651 0.25842 0.76214 0.74356 0.72542 0.70773 0.69047 0.72242 0.70138 0.68095 0.66112 0.64186 0.62317 0.60502 0.58739 0.57029 0.55368 0.66506 0.62741 0.59190 0.55839 0.52679 0.49697 0.46884 0.44230 0.41727 0.39365 0.37136 0.35034 0.33051 0.31180 0.60057 0.57748 0.55526 0.53391 0.51337 0.49363 0.47464 0.45639 0.63017 0.59627 0.58349 0.54703 0.54027 0.50187 0.50025 0.46043 0.46319 0.42241 0.42888 0.38753 0.39711 0.35553 0.36770 0.32618 0.34046 0.29925 0.31524 0.27454 0.29189 0.25187 0.27027 0.23107 0.25025 0.21199 0.23171 0.19449 0.21455 0.17843 0.46651 0.42410 0.38554 0.35049 0.31863 0.28966 0.26333 0.23939 0.21763 0.19784 0.17986 0.16351 0.14864 0.67362 0.65720 0.68643 0.67297 0.64117 0.62553 0.61027 t value tables are used, the present value is calculated by multiplying the future cash amount by the present value factor C. -- PV = PMT (n) Periods 1 5% 7% 8% 9% 109 1.5% 0.98522 2% 0.98039 2.5% 0.97561 3% 0.97087 3.5% 0.96618 4% 0.96154 6% 0.94340 0.95238 0.93458 0.92593 0.91743 0.909 2 1.95588 1.94156 1.92742 1.91347 1.89969 1.88609 1.85941 1.83339 1.80802 1.78326 1.75911 1.735 3 2.91220 2.88388 2.85602 2.82861 2.80164 2.77509 2.72325 2.67301 2.62432 2.57710 2.53129 2.486 4 3.85438 3.80773 3.76197 3.71710 3.67308 3.62990 3.54595 3.46511 3.38721 3.31213 3.23972 3.1698 5 4.78264 4.71346 4.64583 4.57971 4.51505 4.45182 4.32948 4.21236 4.10020 3.99271 3.88965 3.790 6 5.69719 5.60143 5.50813 5.41719 5.32855 5.24214 5.07569 4.91732 4.76654 4.62288 4.48592 4.3552 7 6.59821 6.47199 6.34939 6.23028 6.11454 6.00205 5.78637 5.58238 5.38929 5.20637 5.03295 8 4.8684 7.48593 7.32548 7.17014 7.01969 6.87396 6.73274 6.46321 6.20979 5.97130 5.74664 9 8.36052 8.16224 5.53482 5.3349 7.97087 7.78611 7.60769 7.43533 7.10782 6.80169 6.51523 10 9.22218 6.24689 5.99525 8.98259 5.7590 8.75206 8.53020 8.31661 8.11090 7.72173 7.36009 7.02358 11 10.07112 9.78685 6.71008 6.41766 9.51421 6.1445 9.25262 9.00155 8.76048 8.30641 7.88687 7.49867 7.13896 6.80519 6.49506