Sai Farm issues $47 million of bonds on January 1, 2015 that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below:

Date	Cash Paid	Interest Expense	Decrease in Carrying Value	Carrying Value
1/1/2015				$ 52,899,152
6/30/2015	1,410,000	1,322,479	87,521	52,811,631
12/31/2015	1,410,000	1,320,291	89,709	52,721,922

Required:
1.	Were the bonds issued at face amount, a discount, or a premium?

	Premium
	Face amount
	Discount

2.	What is the original issue price of the bonds? (Omit the "$" sign in your response.)

Original price

$

3.	What is the face amount of the bonds? (Omit the "$" sign in your response.)

Face amount

$

4.	What is the stated annual interest rate? (Omit the "%" sign in your response.)

Stated annual interest rate

%

5.	What is the market annual interest rate? (Omit the "%" sign in your response.)

Market annual interest rate

%

6.	What is the total cash paid for interest assuming the bonds mature in 20 years? (Omit the "$" sign in your response.)

Interest paid

$