On January 1, 2018, Vacation Destinations issues $37 million of bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below:

1. Were the bonds issued at face amount, a discount, or a premium?

2. What is the original issue price of the bonds?

3. What is the face amount of the bonds?

4. What is the stated annual interest rate?

5. What is the market annual interest rate?

6. What is the total cash paid for interest assuming the bonds mature in 10 years?

Cash Paid Date for Interest 1/1/2018 6/30/2018 $1,295,000 1,295,000 12/31/2018 Carrying Interest Increase in Carrying Value Value Expense $34,485,790 $1,379,432 $84,432 34,570,222 1,382,809 34,658,031 87,809