The company issues 4.4% 10-year bonds with a total face amount of $1,000,000 with interest paid semi-annually. The market rate of interest is 4.5%.

n	%	PV	PVA
10	4.50%	0.64393	7.9127
10	4.40%	0.65012	7.9518
20	2.25%	0.64082	15.9637
20	2.20%	0.64712	16.0402

ROUND ANSWERS TO NEARST DOLLAR

What is the issue price of the bond? $_______

What is the interest expense for the first interest payment? $_____

What is the bond liability after the first interest payment? $_______