PLEASE ANSWER IN CELL FORMULAS NOT BASIC PV EQUATION $-$ THANK YOU. The Sanders Company issued $9\mathrm{.}5\%$ bonds, dated January $1,$ with a face amount of $$8,000,000$ on January $1,2024.$ The bonds mature

The Sanders Company issued $9\mathrm{.}5\backslash \%$ bonds, dated January $1,$ with a face amount of $\backslash (\backslash$$ $8,000,000\backslash )$ on January $1,2024.$ The bonds mature on December $31,2033(10$ years$).$ For bonds of similar risk and maturity, the market yield is $\backslash (11\mathrm{.}0\backslash \%\backslash ).$ Interest is paid semiannually on June $30$ and December $31.$ Sanders uses the effective interest method.

$1.$ Determine the price of the bonds at January $1,2024$ using Excel's PV function.

$2.$ Record the bond issuance by the Sanders Company on January $1,2024.$

$3.$ Record the first interest payment on June $30,2024($at the effective rate$).$

$4.$ Record the second interest payment on December $31,2024($at the effective rate$).$