Return question 22 Exercise 10-20B (Algo) Effective Interest: Amortization of bond premium LO P5 0.72 points Quatro Company issues bonds dated January 1, 2021, with a par value of $780,000. The bonds' annual contract rate is 13%, and interest is paid semiannually on June 30 and December 31. The bonds mature three years. The annual market rate at the date of Issuance is 12%, and the bonds are sold for $799,207. 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare an effective interest amortization table for these bonds. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 How much total bond interest expense will be recognized over the life of these bonds? Total Bond Interest Expense Over the Life of the Bonds: Amount repaid: payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense 0 0 22 Exercise 10-20B (Algo) Effective Interest: Amortization of bond premium LO P5 0.72 points Quatro Company issues bonds dated January 1, 2021, with a par value of $780.000. The bonds' annual contract rate is 13%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of Issuance is 12%, and the bonds are sold for $799,207. 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare an effective interest amortization table for these bonds. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 2 Required 3 Prepare an effective interest amortization table for these bonds. (Round all amounts to the nearest whole dollar.) Cash Interest Paid Bond Interest Expense Premium Amortization Semiannual Interest Period-End 01/01/2021 06/30/2021 Unamortized Premium Carrying Value 12/31/2021 06/30/2022 12/31/2022 06/30/2023 12/31/2023 Total