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Question 5 of 5 - / 29 On January 1, 2021. Crane Ltd. issued bonds with a maturity value of $8.800.000 when the market rate of interest was 4%. The bonds have a coupon contractual) interest rate of 5% and mature on January 1, 2031. Interest on the bonds is payable semi- annually on July 1 and January 1 of each year. The company's year end is December 31. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 Calculate the issue price of the bonds. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 0 decimal places, eg. 5,275.) Issue Price $ eTextbook and Media List of Accounts Prepare a bond amortization schedule from the date of issue up to and including January 1, 2023. (Round answers to decimal places, e.g. 5,275.) CRANE LTD. Bond Premium Amortization Table Effective Interest Method-Semi-Annual Interest Payments 5% Bonds Issued at market rate of 4% Interest Expense Premium Amortization Interest Payment Bond An $ $ $ $ Date Jan. 1. 2021 July 1. 2021 Jan. Question 5 of 5 - /29 III Assume instead that the bonds were not redeemed on January 1, 2023. Record the entry for the repayment of the bonds on January 1, 2031. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 (To record maturity of bond.) eTextbook and Media List of Accounts What will be the total interest payment over the 10-year life of the bonds? What will be the total interest expense over the 10- year life of the bonds? (Round answers to decimal places, eg. 5,275.) $ Interest Payment Interest Expense $ eTextbook and Media List of Accounts Question 5 of 5 - / 29 On January 1, 2021. Crane Ltd. issued bonds with a maturity value of $8.800.000 when the market rate of interest was 4%. The bonds have a coupon contractual) interest rate of 5% and mature on January 1, 2031. Interest on the bonds is payable semi- annually on July 1 and January 1 of each year. The company's year end is December 31. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 Calculate the issue price of the bonds. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 0 decimal places, eg. 5,275.) Issue Price $ eTextbook and Media List of Accounts Prepare a bond amortization schedule from the date of issue up to and including January 1, 2023. (Round answers to decimal places, e.g. 5,275.) CRANE LTD. Bond Premium Amortization Table Effective Interest Method-Semi-Annual Interest Payments 5% Bonds Issued at market rate of 4% Interest Expense Premium Amortization Interest Payment Bond An $ $ $ $ Date Jan. 1. 2021 July 1. 2021 Jan. Question 5 of 5 - /29 III Assume instead that the bonds were not redeemed on January 1, 2023. Record the entry for the repayment of the bonds on January 1, 2031. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 (To record maturity of bond.) eTextbook and Media List of Accounts What will be the total interest payment over the 10-year life of the bonds? What will be the total interest expense over the 10- year life of the bonds? (Round answers to decimal places, eg. 5,275.) $ Interest Payment Interest Expense $ eTextbook and Media List of Accounts