On January 1, 2022, Bunk Corporation issued $160,000,00 of 8-year, 9% bonds at a market (effective) interest rate of 12%. Interest on the bonds is payable on April 30th, August 31st, and December 31st. Bunks fiscal year is the calendar year. Any discount or premium is amortized using the straight-line method. Required: 1. Prepare a detailed calculation of the present value of the bond using the present value tables on the next page. Do not round the table factors. 2. Prepare a detailed calculation of the price of the bond. Round answer to nearest whole dollar. 3. Prepare the journal entry to record the issuance of the bond. Journal entry description is not required. 4. Prepare the balance sheet presentation of the bond on December 31, 2023.

YOUR SOLUTION MUST INCLUDE ALL SUPPORTING CALCLUATIONS OR YOU WILL RECEIVE 50% OF THE POINTS POSSIBLE.