On December 31, 2014, Herndon Corp. issues 5 1296, 10-year convertible bonds payable with a maturity value of $4,000,000. The semiannual interest dates are June 30 and December 31. The market interest rate is 6%. Herndon Corp. amortizes bond discount by the effective- interest method. Requirements 1. Use the PV function in Excel to calculate the issue price of the bonds. 2. Using Exhibit of the bond discount as a model, prepare an effective-interest method amortization table for the term of the bonds. Panel A-Bond Data A1 1Issue date-January 1, 2014 Maturity date-January 1, 2019 Market interest rate at time of issue-10% annually, 5% semiannually | | Face (pa r or maturity) value-$100,000 Stated interest rate-996 Interest paid-4 1/2% semiannually 2 3 | Issue price-$96,149 4 $4,500$100,000 x 0.09 x 6/12 Panel R Amoctization Table (ITeinge Ercel