Q2 On 1 January 2020 , Yoome Ltd (YM) issued $10,000,000 5-year bonds for $10,722,173 $10,772,173. Interest is to be paid semi-annually on 30 June and 31 December. The company uses the effective interest rate method of amortizing bond discounts/premiums. The partial bond amortization schedule is shown in the table below: (a) Compute the coupon rate and the effective interest rate of the bonds issued. (b) Explain how the amount in the "Interest Expense" column is determined. (c) Determine the carrying amount of the bond on 30 June 2022. (d) YM retires the bonds on 31 December 2022 by purchasing it on the open market at 98 (i.e. at 98% of the bond's face value). Prepare the necessary journal entries to record the retirement of bonds on 31 December 2022. Explain the effect of retiring the bonds on the financial statements