Santa Corporation issued a bond on January 1 of this year with a face value of $1,000. The bond's coupon rate is 4 percent and interest is paid once a year on December 31. The bond matures in three years. The annual market rate of interest was 5 percent at the time the bond was sold. The following amortization schedule pertains to the bond issued Cash Interest Amortization Balance Paid Expense January 1, Year 1 December 31, Year 1 December 31, Year 2 December 31, Year 3 $973 $40 $49 59 40 49 1,000 Required: 1. What was the bond's issue price? 2. Did the bond sell at a discount or a premium? How much was the premium or disoount? .What amounts) should be shown on the balance sheet for bonds payable at the end of Year 1 and Year 27 Year 1 Year 2