Required information Skip to question [The following information applies to the questions displayed below.] On January 1 of this year, Cunningham Corporation issued bonds with a face value of $217,000 and a coupon rate of 6 percent. The bonds mature in 15 years and pay interest annually every December 31. When the bonds were sold, the annual market rate of interest was 8 percent. The company uses the effective-interest amortization method. By December 31 of this year, the annual market rate of interest had increased to 10 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use appropriate factor(s) from the tables provided. Required: 1. What is the issuance price of the bonds on January 1? Required 2 What amount of interest expense is recorded on December 31 of this year