Sammys Incorporated issued 30 year bonds on January 1, 2015. The bonds had a face value of $1000, and paid a coupon of 5 percent. On the date the bonds were issued, the market rate was 7 percent.

A) (5 points) How much money did Sammy receive from selling the bonds (in other words, what was the price of the bonds) ? Show your work.

B) (5 points) What was Sammys interest expense for each of the first 3 years, 2015-2017. Clearly Label your answers THREE answers. To get credit, you MUST show your work.