Use the following information for the following 3 questions: (round all parts to the nearest dollar) Porter, Inc. issued $400,000. 10-year, 10% bonds for $354,200 on January 1, 2019, the bonds pay interest semiannually on June 30 and December 31. On the date of issuance, the interest rate in the bond market is 12%. Round all parts of the problem to the nearest dollar. 1. What will Porter record as interest expense for the year ending December 31, 2019? A. $42,579 B. $40,000 C. $21.252 D. $21.327 E $20,000 2. What is the carrying value of the bond on December 31, 2019? A. $354,200 B. $355,452 C. $356,779 D. $400,000 E. $359,677 3. What is the total cost of borrowing over the life of this bond? A. $45,800 B. $354,200 C. $400,000 D. $445,800 E. $800,000