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Required information Problem 9-5B Understand a bond amortization schedule (LO9-5) (The following information applies to the questions displayed below.) Temptation Vacations issues $48 million in
Required information Problem 9-5B Understand a bond amortization schedule (LO9-5) (The following information applies to the questions displayed below.) Temptation Vacations issues $48 million in bonds on January 1, 2021, that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (1) (2) Cash Paid for Interest (3) Interest Expense (4) Decrease in Carrying Value Date 1/1/2021 6/30/2021 12/31/2021 (5) Carrying Value $53,125,217 53,064,600 53,001,861 $1,920,000 1,920,000 $1,859,383 1,857,261 $ 60, 617 62,739 Problem 9-5B Part 6 6. What is the total cash paid for interest assuming the bonds mature in 20 years? (Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000)) Answer is complete but not entirely correct. Total cash interest $38,400,000
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