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On January $1,2024,$ Pharoah issued $$5,700,000,4\%$ bonds. Interest is payable semi$-$annually on June $30$ and December $31.$ The bonds mature on January $1,2034.$ The bonds are sold to yield $12\%.$

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$($a$)$

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Calculate the issue price of the bonds. $($Round factor values calculations to $5$ decimal places, e$.$g$.2\mathrm{.}55555$ and final answer to $0$ decimal places, e$.$g$.25,000.)$

Issue price of bond

$

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$($b$)$

Prepare the amortization table for the first year assuming the effective interest method is used to calculate interest. $($Round answers to $0$ decimal places, e$.$g$.25,000.)$

Date

Cash Interest

Interest Expense

Discoun

$\frac{1}{1}\frac{?}{2024}$

$\frac{6}{30}\frac{?}{2024}$

$

$

$\frac{12}{31}\frac{?}{2024}$

Attempts: $0$ of $1$ used