On June $30,2025,$ Michael Jones Company issued $$3,493,000\mathrm{.}00$ face value of $14\%,20-$year bonds at $$4,018,560\mathrm{.}00,$ a yield of $12\%.$Jones uses the effective$-$interest method to amortize bond premium or discount. The bonds pay semiannual interest on June $30$ and $-$ December $31\mathrm{.}1\mathrm{.}1.$ What amount of interest expense is reported for $2026?($Round answer to $2$ decimal places, eg$.38,548\mathrm{.}25.)$Interest expense reported for $20262.$ Will the bond interest expense reported in $2026$ be the same as$,$ greater than, or less than the amount that would be reported if the straight$-$line method of amortization were used?$3.$ The bond interest expense reported in $2026$ will begreater thanthe amount that would be reported if the straight$-$line me$3.$ Determine the total cost of borrowing over the life of the bond. $($Round answer to $0$ decimal places, eg$.38,548.)$Total cost of borrowing over the life of the bond$4.$ Will the total bond interest expense for the life of the bond be greater than, the same as$,$ or less than the total interest expense if the straight$-$line method of amortization were used?The total bond interest expense for the life of the bond will beless thanthe total interest expense if the straight$-$line m