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Quatro Co. issues bonds dated January 1, 2017, with a par value of $700,000. The bonds annual contract rate is 13%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 12%, and the bonds are sold for $717,237. 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare an amortization table for these bonds; use the straight-line method to amortize the premium

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 How much total bond interest expense will be recognized over the life of these bonds? Total Bond Interest Expense Over Life of Bonds: Amount repaid: 6 payments of $ 45,500 $ 273,000 Par value at maturity 3 X Total repaid 273,003 Less amount borrowed 717,237 Total bond interest expense $ (444,234) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an amortization table for these bonds; use the straight-line method to amortize the premium. (Round your intermediate calculations to the nearest dollar amount.) Semiannual Interest Period End 01/01/2017 Unamortized Premium $ 17,237 14,771 % 12,157 9,386 6,449 X 3,577 Carrying Value $ 717,237 714,771 712,157 709,386 06/30/2017 12/31/2017 06/30/2018 12/31/2018 06/30/2019 12/31/2019 706,449 703,577 700,000