On January 1, 2021, Vacation Destinations issues $26 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)
			Cash Paid					Interest			Increase in						Carrying
	Date		for Interest					Expense			Carrying Value						Value
	1/1/2021																$	24,152,388
	6/30/2021			$	780,000			$	845,334			$	65,334					24,217,722
	12/31/2021				780,000				847,620				67,620					24,285,342

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

2. What is the original issue price of the bonds? (Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000).)

3. What is the face amount of the bonds? (Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000).)

4. What is the stated annual interest rate?

5. What is the market annual interest rate? (Round your answer to the nearest whole percent.)

6. What is the total cash paid for interest assuming the bonds mature in 10 years? (Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000).)