Team Ltd$.$ is authorized to issue $$3,000,000$ of $1\%,10-$year bonds payable. On December $31,2021,$ when the market interest rate is $5\%,$ the company issues $$2,400,000$ of the bonds. Team amortizes bond discount using the effective$-$interest method. The semiannual interest dates are June $30$ and December $31.$

Read the requirements.

Requirement $1.$ Use the PV function in Excel to calculate the issue price of the bonds. $($Round your answer to the nearest whole dollar.$)$

The issue price of the bonds is

Requirement $2.$ Prepare a bond amortization table for the first year of the bonds.

$($Round your answers to the nearest whole dollar.$)$

$\backslash$table$[[$Semiannual$,\backslash$table$[[$Team Ltd$.],[$Amortization Table$]],,\backslash$table$[[$Bond$],[$Carrying$]]],[$Interest$,$Interest,Discount,$\backslash$table$[[$Discount$],[$Account$]]],[$Interest Date,Payment,Expense,Amortization,Balance,Amount$]]$