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Sun City issues $50 million of bonds on January 1, 2021 that pay interest semiannually on June 30 and December 31. A portion of the

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Sun City issues $50 million of bonds on January 1, 2021 that pay interest semiannually on June 30 and December 31. A portion of the bond amortization schedule appears below. Cash Paid Interest Expense Decrease in Carrying Value Date 01/01/2021 06/30/2021 12/31/2021 Carrying Value $61,557.386 61,404.10B 61,246.231 $2.000.000 2,000,000 $1,846,722 1,842,123 $153, 278 157.877 Required: 1. Were the bonds issued at face amount, a discount, or a premium? Face amount Premium Discount 2. What is the original issue price of the bonds? Original price 3. What is the face amount of the bonds? Face amount 4. What is the stated annual interest rate? (Hint: Be sure to provide the annual rate rather than the six-month rate.) Stated annual interest rate % 5. What is the market annual interest rate? (Hint: Be sure to provide the annual rate rather than the six-month rate.) Market annual interest rate % 6. What is the total cash paid for interest assuming the bonds mature in 20 years? Interest paid

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