Ike Issues $\backslash$$$160,000$ of $13\backslash \%,$ three$-$year bonds dated January $1,2021,$ that pay interest semlannually on June $30$ and December $31.$ They are issued at $\backslash (\backslash$$ $163,940\backslash )$ when the market rate is $\backslash (12\backslash \%\backslash ).$

Required Information

$[$The following information applies to the quest$/$ons displayed below.$]$

Ike Issues $\backslash (\backslash$$ $160,000\backslash )$ of $\backslash (13\backslash \%\backslash ),$ three$-$year bonds dated January $1,2021,$ that pay interest semlannually on June $30$ and December $31.$ They are issued at $\backslash (\backslash$$ $163,940\backslash )$ when the market rate is $\backslash (12\backslash \%\backslash ).$

$2.$ Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life.

Answer is complete and correct.

Required Information

$[$The following information applies to the questions displayed below.$]$

Ike Issues $\backslash (\backslash$$ $160,000\backslash )$ of $\backslash (13\backslash \%\backslash ),$ three$-$year bonds dated January $1,2021,$ that pay Interest semlannually on June $30$ and December $31.$ They are issued at $\backslash (\backslash$$ $163,940\backslash )$ when the market rate is $\backslash (12\backslash \%\backslash ).$

$3.$ Prepare an effective interest amortization table for the bonds' first two years.

Note: Round your Intermedlate and final answers to the nearest whole dollar.

Answer is complete but not entirely correct.