On January 1, 2012, Vacation Destinations issues bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below:

Required:
1. Were the bonds issued at face amount, a discount, or a premium?
2. What is the original issue price of the bonds?
3. What is the face amount of the bonds?
4. What is the term to maturity in years?
5. What is the stated annual interest rate?
6. What is the market annual interest rate?
7. What is the total cash interest paid over the term to maturity?

Cash Paid for Interest Interest Carrying Value ncrease in Date 1/1/2012 6/30/2012 12/31/2012 xCarrying Value $1,200,000 1,200,000 $1,262,196 1,264,995 S 62,196 64,995 S28,048,810 28,111,006 28,176,001 6/30/2021 12/31/2021 1,200,000 1,200,000 1,337,360 1,343,541 137,360 143,541 29,719,099 29,856,459 30,000,000 2