Santa Corporation issued a bond on January 1 of this year with a face value of $1,000. The bond's coupon rate is 5 percent and interest is paid once a year on December 31. The bond matures in three years. The annual market rate of interest was 9 percent at the time the bond was sold. The following amortization schedule pertains to the bond issued Cash Interest Amortization Paid Expense Balance January 1, Year 1 December 31, Year 1 December 31, Year 2 December 31, Year 3 $81 84 86 $31 34 36 $899 930 964 1,000 S50 50 50 Required 1. What was the bond's issue price? Bond issue price 2. Did the bond sell at a discount or a premium? How much was the premium or discount? 3. What amount(s) should be shown on the balance sheet for bonds payable at the end of Year 1 and Year 2? Bonds Payable Year 1 Year 2 4. Show how the following amounts were computed for Year 2: (a) $50, (b) $84, (c) $34, and (d) $964. (Enter percentages in decimals.) S 50 84 (rounded) $ 34 $964