Enviro Company issues 8%, 10-year bonds with a par value of $240,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87 V2. The straight-line method is used to allocate interest expense. 1. Using the implied selling price of 87 , what are the issuer's cash proceeds from issuance of these bonds? Answer is complete but not entirely correct. Cash proceeds 297,300 2. What total amount of bond interest expense will be recognized over the life of these bonds? Answer is complete but not entirely correct. Total Bond Interest Expense Over Lite of Bonds: Amount repaid 200 payments 13,600 272,000 Par value at maturity 340,000 Total repayments 612.000 Lors amount borrowed (from part 1) 297,500 Total bond Interest expense $ 314,500 of 3. What is the amount of bond interest expense recorded on the first interest payment date? Answer is complete but not entirely correct. Bond interest expense $ 15.725