part 1: Temptation Vacations issues $53 million in bonds on January 1, 2018, that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below:

(1)	(2)	(3)	(4)	(5)
Date	Cash Paid for Interest	Interest Expense	Decrease in Carrying Value	Carrying Value
1/1/2018				$58,659,094
6/30/2018	$2,120,000	$2,053,068	$66,932	58,592,162
12/31/2018	2,120,000	2,050,726	69,274	58,522,888
4. What is the stated annual interest rate? 6. What is the total cash paid for interest assuming the bonds mature in 20 years? ------------------------------------------------------------------------------------------------------ this is the question: On January 1, 2018, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 10% and the bonds issued at $457,102. f the market interest rate drops to 7% on December 31, 2019, it will cost $601,452 to retire the bonds. Record the retirement of the bonds on December 31, 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate calculations to the nearest whole dollar amount.)