Sun City Issues $40 million of bonds on January 1, 2024 that pay Interest semiannually on...

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Sun City Issues $40 million of bonds on January 1, 2024 that pay Interest semiannually on June 30 and December 31. A portion of the bond amortization schedule appears below: Date 01/01/2024 06/30/2024 Cash Paid Interest Expense Decrease in Carrying Value Carrying Value $50,942,192 12/31/2024 $1,200,000 1,200,000 $1,018,844 1,015,221 $181,156 184,779 50,761,036 50,576,257 Required: 1. Were the bonds issued at face amount, a discount, or a premium? 2. What is the original issue price of the bonds? 3. What is the face amount of the bonds? 4. What is the stated annual Interest rate? (Hint: Be sure to provide the annual rate rather than the six-month rate.) 5. What is the market annual Interest rate? (Hint: Be sure to provide the annual rate rather than the six-month rate.) 6. What is the total cash paid for Interest assuming the bonds mature in 20 years? 1. The bonds were issued at: 2. Original price 3. Face amount 4. Stated annual interest rate % 5. Market annual interest rate % 6. Interest paid Sun City Issues $40 million of bonds on January 1, 2024 that pay Interest semiannually on June 30 and December 31. A portion of the bond amortization schedule appears below: Date 01/01/2024 06/30/2024 Cash Paid Interest Expense Decrease in Carrying Value Carrying Value $50,942,192 12/31/2024 $1,200,000 1,200,000 $1,018,844 1,015,221 $181,156 184,779 50,761,036 50,576,257 Required: 1. Were the bonds issued at face amount, a discount, or a premium? 2. What is the original issue price of the bonds? 3. What is the face amount of the bonds? 4. What is the stated annual Interest rate? (Hint: Be sure to provide the annual rate rather than the six-month rate.) 5. What is the market annual Interest rate? (Hint: Be sure to provide the annual rate rather than the six-month rate.) 6. What is the total cash paid for Interest assuming the bonds mature in 20 years? 1. The bonds were issued at: 2. Original price 3. Face amount 4. Stated annual interest rate % 5. Market annual interest rate % 6. Interest paid