On June 30, 2025, William Brown Company issued $3,340,000.00 face value of 14%, 20-year bonds at $3,842,540.00, a yield of 12% Brown uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. Click here to view factor tables. 1. What amount of interest expense is reported for 2026? (Round answer to 2 decimal places, e.g. 38,548.25.) Interest expense reported for 2026 460508.53 2. Will the bond interest expense reported in 2026 be the same as, greater than, or less than the amount that would be reported if the straight-line method of amortization were used? The bond interest expense reported in 2026 will be greater than the amount that would be reported if the straight-line meth 3. Determine the total cost of borrowing over the life of the bond. (Round answer to O decimal places, e.g. 38,548.) Total cost of borrowing over the life of the bond $ 9352000 4. Will the total bond interest expense for the life of the bond be greater than, the same as, or less than the total interest expense if the straight-line method of amortization were used? The total bond interest expense for the life of the bond will be the same as the total interest expense if the straight-line met