Compute Bond Proceeds, Amortiring Discount by Interest Method, and Interest Expense Boyd Co. produces and sells aviation equipment on the first day of ts fiscal year, Boyd issued $80,000,000 of five-year, 9% bonds at a market (effective interest rate of 12%, with interest payable semiannually. Compute the following inting figures used in your computations: a. The amount of cash proceeds from the sale of the bonds. Use the tables of present values in Exhibit 5 and Exhibit 7. Round to the nearest dallar b. The amount of discount to be amortized for the first semiannual interest payment period, using the Interest method. Round to the nearest dollar. c. The amount of discount to be amortized for the second semiannual Interest payment perlod, using the Interest method. Round to the nearest dallar. d. The amount of the band interest expense for the first year. Round to the nearest dollar X Remember, the selling price of a bond is the sum of the present values of the face amount of the bonds due at the maturity date and the periodic Interest to be paid on the bonds The market rate of interest is used to compute the present value of both the face amount and the periodic interest As the discount or premium is amortized, the carrying amount of the band changes. As a result, Interest expense also changes each period