Use the following to answer questions $11-15$

The company issues $6\mathrm{.}0\%,20-$year bonds with a face amount of $$500,000$ for $$501,148\mathrm{.}86.$ The market interest rate for

bonds of similar risk and maturity is $5\mathrm{.}98\%.$ Interest is paid annually.

$

Determine the interest payment.

$

$($rounded to nearest dollar$).$ Determine interest expense for the first interest payment.

What will happen to interest expense each interest payment? $($Increase$,$ decrease, remain constant$)$

What will happen to the bond liability $($carrying value$)$ each interest payment? $($Increase$,$ decrease, remain

constant$).$

$$

When the bond matures in $20$ years after all the interest payments have been made, how much will

the company pay bondholders?