On January 1, 2019, Learned Inc, issued $12 million face amount of 20-year, 10% stated rate bonds when market interest rates were 12%. The bonds pay interest semiannually each June 30 and December 31 and mature on December 31, 2038. Table 6-4, Table 6-5 (Use appropriate factor from the table provided.) Required: a. Calculate the proceeds (issue price) of Learned Inc.s, bonds on January 1, 2019, assuming that the bonds were sold to provide a market rate of return to the investor. (Round PV factor to 4 decimal places. Enter your answers in dollars, rather than in millions of dollars.) B)Assume instead that the proceeds were $12,304,000. Record the journal entry to show the payment of semiannual interest and the related premium amortization on June 30, 2019, assuming that the premium of $304,000 is amortized on a straight-line basis. (Enter your answers in dollars, rather than in millions of dollars.