Williams Company is planning to issue $550,000 of 9%, 15-year bonds payable to borrow for a major expansion. The owner, Franky Williams, asks your advice on some related matters Read the requirements (Round your answers to the nearest whole dollar.) Assuming that the straight-line method is used, Williams Company's interest expense for the first year will be 1. Answer the following questions: a. b. C. At what type of bond price will Williams Company have total interest expense equal to the cash interest payments? Under which type of bond price will Williams Company's total interest expense be greater than the cash interest payments? If the market interest rate is 12%, what type of bond price can Williams Company expect for the bonds? 2. Compute the price of the bonds if the bonds are issued at 89. 3. How much will Williams Company pay in interest each year? How much will Williams Company's interest expense be for the first year? (Assume the straight-line method is used.)