On January 1, 2019, bonds with a par value of $700,000. Interest is paid semiannually on June 30 and Decmber 31 and the bonds stated rate is 13%. The bonds mature in three years. The annual market rate at the date of issuance is 12%, and the bonds are sold for $717,237. 1. Calculate the amount of the premium on these bonds at issuance. 2. Calculate total bond interest expense will be recognized over the life of these bonds. Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the amount of the premium on these bonds at issuance? Premium Required 1 Required 2 How much total bond interest expense will be recognized over the life of th Total Bond Interest Expense Over the Life of the Bonds: Amount repaid: payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense