PART B Dantonio Corporation issued six-year, 7.5% bonds with a total face value of $1,100,000 on January 1, 2018. Interest is paid annually on December 31. The market rate of interest on this date was 10.0%. Dantonio uses the effective interest rate method. Required: 1. Determine the proceeds of the bond sale on 1/1/18. Explain your method of calculation. 2. Using the present value of a dollar table (found in Appendix E of your text), what factor would you use to calculate the present value of the face value of the bond? 3. Using the present value of an ordinary annuity table (found in Appendix E of your text), what factor would you use to calculate the present value of the coupon payments? 4. Did this bond sell at a premium or discount? In 1-2 sentences explain why it sold at a premium or discount