Taro company is going to issue 100 $1000 face value bonds with a stated interest rate of 6% and a duration of 8 years. On the daye of issuance, the market rate for simliar debt securities is 10%.

Name: Taro company is going to issue 100 $1,000 Face Value bonds with a stated interest rate of 6% and a duration of 8 years. On the date of issuance, the Market rate for similar debt securities is 10% Requirements: 1. Calculate the Bond Price 2. Create a Journal Entry for the Bond's Issuance 3. Amortize the bond using effective interest amortization for the entire life of the bond 4. Create the journal entry to record interest in year 5 5. Retire the bond during year 6 at 99 and record the journal entry