! Required information Problem 14-5A Straight-Line: Amortization of bond premium and discount LO P1, P2, P3 [The following information applies to the questions displayed below. Legacy issues $600,000 of 7.0%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $541,807 and their market rate is 10% at the issue date. Problem 14-5A Part 2 2. Determine the total bond interest expense to be recognized over the bonds' life. Total bond interest expense over life of bonds: Amount repaid: payments of Par value at maturity Total repaid 0 Less amount borrowed Total bond interest expense $