There are Five requirements

On January 1, 2017, Tango-In-The-Night, Inc., issued $75 million of bonds with an 8% coupon interest rate. The bonds mature into years and pay interest semi-annually on June 30 and on December 31 of each year. The market rate of interest on January 1, 2017, for bonds of this type was 8%. The company closes its books on December 31, Tango-In-The-Night elects the fair value option under ASU 2016-1. Ignore tax effects. Use (PV of 1. PVAD of 1, and PVOA of 1 (Use the approprlate factor(s) from the tables provlded.) Requlred 1. At what price were the bonds issued? 2. What journal entries would Tango-In-The-Night make in 2017 if the market interest rate for the bonds is 6% at December 31, 2017? 3. On December 31, 2018, the general market interest rate for bonds of this type remain at 6%. However, due to Tango-In-The-Night's deteriorating financial strength, the market interest rate for its debt is 10%. What journal entries would ne company make during 4. Suppose that the bonds were repurchased for cash on January 1, 2019, when the market rate for the bonds was 10%, Whatjoumal entry would the company make to record the debt retirement? 5. What would the the January 1, 2019.journal entry be if Tango-In-The-Night had not elected the fair value option? Complete this question by entering your answers in the tabs below Required 1Required 2 Required 3 Required 4Required 5 At what price were the bonds issued? (Enter your answers rounded to the nearest whole dollar and not millions of dollars.) price at issuance 68.035,100