The Designer Company issued 10-year bonds on January 1. The 5 bonds have a face value of $724,000 and pay interest every January 1 and July 1. The bonds were sold for $601,724 based on the market interest rate of 6%. Designer uses the effective interest method to amortize bond discounts and premiums. On July 1 of the first year, Designer should record interest expense (round to the nearest dollar) of $21,720 518,052 $15.043 d. 518,100 Previous Next > Oie 9 A Sopo Calculator 12 compounded analys (rounded to restor). Use the following table, The present value of $76.000 to be received in two years, needed Present Value of $1 at Compound taterest Periods 5% 6% 7% 10% 12% 1 0 .95231 0.94340 0.03458 0,90909 0.89286 0.90703 09000 0.87344 0.0245 0.79719 O 051630 0.75132 071178 0.82270 0.79209 0.76290 0.68301 0,63552 0.78353 0.74725 0.71299 0.62092 0467 076572 70496 67 50063 0.71068 0.66506 0.62275 0.51316 0445235 04018 0.67684 0.62741 0.58201 54461 0591104 100.51391 0.55840 0.035 0.46651 040 0106 032192 0.554 166,331 362 310 586 &$67,640 Emal structor Su Test for Grading | Home and PSUP on in 4 5 9