On June 30,2025 , Paul White Company issued $4,420,000.00 face value of 15%,20-year bonds at $5,417,560.00, a yield of 12%. White uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and -December 31. Click here to view factor tables. Provide the answers to the following questions. 1. What amount of interest expense is reported for 2026 ? (Round answer to 2 decimal places, e.g. 38,548.25.) Interest expense reported for 2026$ 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 the amount that v 3. Determine the total cost of borrowing over the life of the bond. (Round answer to 0 decimal places, e.g. 38,548.) Total cost of borrowing over the life of the bond $