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On January 1, 2024, Coney Island Entertainment issues $1,200,000 of 5% bonds, due in 10 years, with interest payable semiannually on June 30 and December

On January 1, 2024, Coney Island Entertainment issues $1,200,000 of 5% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assume that the market interest rate is 6% and the bonds issue at a discount.

1. Calculate the issue price of a bond.

2. Complete the first three rows of an amortization schedule.

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