The Credit Corporation sells 900 bonds. Each bond has a par value of $1.000. The Bonds are sold on January 1, 2010. The interest rate (coupon rate) listed on the bond is 8%. The bonds pay interest twice per year, June 30th and December 31st. The bonds are 15-year bonds. The market interest rate (yield) for these types of bonds (debt securities) at the time the bonds are sold (January 1, 2010) is 6% annually. Requirements: a. What is the total amount of interest paid to the bondholders over the life of the bonds? b. What is the present value of the interest payments over the life of the bonds? c. What amount is paid the bondholders to retire the bonds at the end of 15 years? d. What is the present value of the amount paid bondholders to retire the bonds at the end of 15 years? e. What is the total amount the bonds sold for on January 1, 2010? Prepare the journal entry. f. Does an increase or decrease in market interest rates during the 15 years the bonds are outstanding impact your calculations above? Why or why not? (Explain)