THE FOLLOWING RELATES TO KVLD. INC. FOR THE YEAR BEGINNING JANUARY 1, 2015. $100,000, 16%, 5 year bonds were issued on 1/1/15 when the market rate was 12%. Interest is payable semi-annually. July 1 and January 1. 1 Calculate the periodic interest payment to the bondholders. YOU MUST SHOW YOUR WORK 2 WHAT IS "n"? WHAT IS "1"? 3 Calculate the selling price of the bonds - show all your steps YOU MUST SHOW YOUR WORK No work No credit. 4 Prepare the journal enry to record the sale of the bonds. 5 Calculate the interest expense for the July 1, 2015 interest payment. 6 Prepare the journal entry to record the interest payment and amortization for July 1, 2015