On January 1, 2010, ABX Company issues $1,000,000 of 7-year, 5% coupon bonds with the yield to maturity of 5.45%. The interest is payable annually on December 31. Calculate the interest expense in 2011. Use the effective interest rate method for amortization. Round to the nearest dollar. On January 1, 2010, ABX Company issues $1,000,000 of 7-year, 5% coupon bonds with the yield to maturity of 5.45%. The interest is payable annually on December 31. On January 1, 2013, the market yield to maturity is 7%. ABX Company decides to derecognize the bonds by paying the market value plus $10,000. Determine the amount of the gain or loss on the bond de-recognition. (Assume no fee is involved. Use +- signs to express gain or loss, 65.23 gain as +65.23, 75.23 loss as -75.23.) Round to the nearest dollar