Use the following to answer questions 4 7 (Round answers to the nearest dollar) TR issues 7.0%, 5-year bonds with a total face amount of $1,000,000. The market interest rate for bonds of similar risk and maturity is 6.8%. Interest is paid semi-annually. DO NOT ROUND YOUR ANSWERS UNTIL YOU FULLY COMPLETE THE PROBLEM SET (input your answers after youve completed the entire problem)

4. $___________ (rounded to nearest dollar). What is the issue price of the bond? 5. $___________ (rounded to nearest dollar). When the company records the first interest payment, how much will the company record for interest expense? 6. $___________ (rounded to nearest dollar). What is the bond liability (carrying amount) after the first interest payment? 7. $___________ (rounded to nearest dollar). When the company records the second interest payment, how much will the company record for interest expense?