Question 2 (6 marks) On January 1, 2018 ABC Corporation issued a five-year $1,000,000,7%, at $1,050,000. Interest is paid annually on December 31. The market rate of interest is 6%. Required a) Using the effective interest rate method, what is the interest expense at December 31, 2018? Interest Expense at December 31,2018 = $ b) What is the carrying value of the bond at December 31, 2018? Carrying value of bond on December 31, 2018 = $_ c) What is the carrying value of the bond at January 1, 2023? Carrying value of the bond at January 1, 2023 =$_