On $1$ January $20$X$5,$ Franco Ltd$.$ purchased $$470,000$ of Gentron Company $7\mathrm{.}00\%$ bonds. The bonds pay semi$-$annual interest each $30$ June and $31$ December. The market interest rate was $8\%$ on the date of purchase. The bonds mature on $31$ December $20$X$10.$ The company has a $31$ December year$-$end.

$1.$ Calculate the price paid by Franco Ltd$.($Do not round interemediate calculations. Round your final answer to the nearest dollar.

$2.$ Assume that the bond is classified as an AC investment. Construct a table that shows interest revenue reported by Franco, and the carrying value of the investment, for four interest perios. Use the effective interest method. $($Do not round intermediate calculations. Round your final answer to the nearest dollar amount.$)$ The chart is left to right $-$ cash payment, interest revenue, amortization, bond carrying value.

$3.$ Prepare the entries for the first four interest periods based on your calculations in question $2.($If no entry is required for a transaction$/$event$,$ select no journal entry required. Do not round intermediate calculations. Round your final answers to the nearest dollar amount.$)$

$4.$ Assume instead that the bond is classified as FVTPL investment, and the fair value at the end of $20$X$5$ was $$455,000$ and was $$459,500$ at the end of $20$X$6.$ Prepare the entries for each interest period in $20$X$5$ and $20$X$6,$ and adjust the bond to fair value at the end of each fiscal year. $($That is$,$ the bond is not adjusted to fair value at each interest payment date, just at reporting date.$)$