On 1/1/23, BIGDEBT issued $11,500,000 face value bonds, dated 1/1/23, with a coupon rate of 7%...

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On 1/1/23, BIGDEBT issued $11,500,000 face value bonds, dated 1/1/23, with a coupon rate of 7% for a price of $9,380,000. Interest is paid semiannually on 6/30 and 12/31. The bonds have a 5-year life, with principal due on 12/31/27. The bonds are callable (redeemable) by BIGDEBT at any time at a price of 1.06 (or $1,060 per $1,000 bond). a. Compute the annual market interest rate (i.e., what was the market rate of interest on Jan. 1, 2023--the date the bonds were issued.) b. Prepare and attach an amortization schedule in EXCEL to cover the life of the bonds. On 1/1/23, BIGDEBT issued $11,500,000 face value bonds, dated 1/1/23, with a coupon rate of 7% for a price of $9,380,000. Interest is paid semiannually on 6/30 and 12/31. The bonds have a 5-year life, with principal due on 12/31/27. The bonds are callable (redeemable) by BIGDEBT at any time at a price of 1.06 (or $1,060 per $1,000 bond). a. Compute the annual market interest rate (i.e., what was the market rate of interest on Jan. 1, 2023--the date the bonds were issued.) b. Prepare and attach an amortization schedule in EXCEL to cover the life of the bonds.