Question 10 5 pts On January 1, 2020, Madge Airways issued $3,500,000 of par value bonds for $3,200,000. The bonds pay interest semiannually on January 1 and July 1. The contract rate of interest is 7% while the market rate of interest for similar bonds is 8%. The bond premium or discount is being amortized using the straight-line method at a rate of $25,000 every six months. The life of these bonds is: O 6 years O 10 years 20 years O 12 years Question 8 5 pts On January 1, 2020, Toland Sales issued $26,000 in bonds for $20,300. These are eight-year bonds with a stated interest rate of 14% pay semiannual interest on June 30 and December 31. Toland Sales uses the straight-line method to amortize the bond discount. What is the bond carrying amount after the fourth interest payment on December 31, 2021? (Round your answer to the nearest dollar.) $30,275 O $21,725 $21,369 O $18.875