On January 1, 2015, Vacation Destinations issues $27 million of bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below:

(1)

(2)

(3)

(4)

(5)

Date

Cash Paid for Interest

Interest Expense

Increase in Carrying Value

Carrying Value

1/1/2015

$25,165,306

6/30/2015

$945,000

$1,006,612

$61,612

25,226,918

12/31/2015

945,000

1,009,077

64,077

25,290,995

4.What is the face amount of the bonds? (Enter your answer in dollars not in millions.)

5.	What is the stated annual interest rate?

6.	What is the market annual interest rate?

.	7.What is the total cash interest paid over the term to maturity if the term of the bond is 10 years? (Enter your answer in dollars not in millions.)