On January 1, 2020, ABC Company issued a three-year bonds with face amount of 10,000,000 and 9% stated rate. The bond mature on January 1, 2023 and interest is payable annually on December 31. The bonds are issued at 9,751,210 with effective yield of 10% before considering the bond issue cost. The entity paid bond issue cost of 72,790. The entity uses the effective Interest method of amortization. 1. What is the net proceeds from the issuance of bonds? 2. What is the new effective rate? 3. What is the amortized cost/ carrying amount bonds on December 31, 20217 4. What is the interest expense on December 31, 20227 5. What is the unamortized premium/discount on December 31,2022