Compute bond proceeds, amortizing discount by interest method, and interest expense
DATA
Face amount of bonds		$84,000,000
Contract rate of interest		7%
Term of bonds, years		5
Market rate of interest		11%
Interest payment		Semiannual
Using formulas and cell references, perform the required analysis, and input your answers into the Amount column. Transfer the numeric results for the green entry cells (C13:C16) into the appropriate fields in CNOWv2 for grading.
		Amount	Formulas
a.	PV of cash proceeds
b.	Discount amortized for the 1st interest payment period
c.	Discount amortized for the 2nd interest payment period
d.	Interest expense for the 1st year