purchase of fixed assets, Brooks Enterprises Litd. issues non-convertible (long ferm) bonds to its investors. A syndicate of uhderwriter have agreed to provide financial intermediary services to the company by buying the entire bond issue at the prevailimg market price. The underwriting fee charyed by the undeririting syndicate is equal to 1% of the maturity value of bonds payable. The company pays the entire underwriting fees at the time of issuance of bonds. The underwriters have thus taken the full responsibility of selling the bonds to the investors, which is a big relicf to the company. [20 marks] The details of the bond issuance are as follows: Time to maturity =3 years: Coupon rate =10% per annum: Number of coupon payments in a year =2 (semi-annual payments); Market interest rate at the time of bond issuance =12% per annum, Face value = Rs 100, Number of bonds issued =450,000; and the company uses the effective interest amortization method for amortizing the discount on the bonds payable. Other relevant information: Date of bond issue: 01 January 20X5; Date of bond maturity: 01 January 20X8. The company receives the cash proceeds from issuance on 01 Jan 205 and redemption payment is done to the investors on the maturity date Coupon payment dates are 01 July and 01 January every year. First coupon payment is paid after 6-months of issuance. The company follows the calendar year for accounting and financial reporting purpose. Note: Bond Issue Cost (underwriting fees) is assumed a long-term asset accown that is capitalized (i.e. charged to an expense account) over the entire life of the bond using the straight-like method (i.e. issuc cost is spread over 6 periods equally). You are required to perform the following tasks: a) Calculate the price of the bond (per unit). b) With appropriate dates, show the affect of all relevant transactions during the first year by preparing the ledger account for (a) Cash Account (b) Discount on Bonds payable, and (c) interest expense c) Prepare the detailed bonds payable account to show the net carrying amount at the end of year 1 i.e. 31 Dec 20x5. No journal entries are required