QUESTION 4 On January 1, Fields Pecan Pie Corporation issued $700,000, 5%, 32-year bonds to yield 12%. The bonds pay interest annually on December 31. What is the cost of borrowing? QUESTION 5 On January 1, 2021, Duke Corporation issued 11,000 of its 5%, $1,000 bonds at 101. Interest is payable semiannually on June 30 and December 31. The bonds mature on December 31, 2038. Duke uses straight-line amortization of any premium or discount. What is interest expense for 2025?