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This is the entire question On June 30, 2021, Singleton Computers issued 5% stated rate bonds with a face amount of $120 million. The bonds

This is the entire question

On June 30, 2021, Singleton Computers issued 5% stated rate bonds with a face amount of $120 million. The bonds mature on June 30, 2036 (15 years). The market rate of interest for similar bond issues was 4% (2.0% semiannual rate). Interest is paid semiannually (2.5%) on June 30 and December 31, beginning on December 31, 2021. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price of the bonds on June 30, 2021. 2. Calculate the interest expense Singleton reports in 2021 for these bonds using the effective interest method.

Table values are based on:
n =
i =
Cash Flow Amount Present Value
Interest
Principal
Price of bonds

Calculate the interest expense Singleton reports in 2021 for these bonds using the effective interest method. (Enter your answers in whole dollars. Round your final answers to nearest whole dollar amount.)

Period-End Cash Interest Paid Bond Interest Expense Premium Amortization Carrying Value
06/30/2021
12/31/2021 $0 0

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