Tano Company issues bonds with a par value of $98,000 on January 1, 2021. The bonds' annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 10%, and the bonds are sold for $90,537. 1. What is the amount of the discount on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare a straight-line amortization table for these bonds. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 How much total bond interest expense will be recognized over the life of these bonds? 20,580 Total Bond Interest Expense Over Life of Bonds: Amount repaid: 6 payments of $ 3,430 $ Par value at maturity Total repaid Less amount borrowed 20,580 Total bond interest expense $ 20,580 Assessment Tool iFrame uired 2 Required 3 Prepare a straight-line amortization table for these bonds. (Round your intermediate calculations to the nearest dollar amount.) Semiannual Period-End Unamortized Discount Carrying Value 01/01/2021 (0) (1) 06/30/2021 (2) 12/31/2021 06/30/2022 (3) (4) (5) 12/31/2022 06/30/2023 (6) 12/31/2023