Please answer this problem showing how you got your answers and make sure to answer all 3 required parts please.

Exercise 14-20B (Algo) Effective Interest: Amortization of bond premium LO P5 Quatro Company issues bonds dated January 1, 2021, with a par value of $880,000. The bonds' annual contract rate is 13%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 12%, and the bonds are sold for $901,670. 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare an effective interest amortization table for these bonds. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the amount of the premium on these bonds at issuance? Premium $ 21,670 Exercise 14-20B (Algo) Effective Interest: Amortization of bond premium LO P5 Quatro Company issues bonds dated January 1, 2021, with a par value of $880,000. The bonds' annual contract rate is 13%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 12%, and the bonds are sold for $901,670. 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare an effective interest amortization table for these bonds. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 How much total bond interest expense will be recognized over the life of these bonds? Total Bond Interest Expense Over the Life of the Bonds: Amount repaid: 6 payments of $ 57,200 $ Par value at maturity 343,200 Total repaid 880,000 1,223,200 (901,670) 321,530 Less amount borrowed Total bond interest expense $ Exercise 14-20B (Algo) Effective Interest: Amortization of bond premium LO P5 Quatro Company issues bonds dated January 1, 2021, with a par value of $880,000. The bonds' annual contract rate is 13%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 12%, and the bonds are sold for $901,670. 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare an effective interest amortization table for these bonds. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an effective interest amortization table for these bonds. (Round all amounts to the nearest whole dollar.) Semiannual Interest Period-End Cash Interest Bond Interest Paid Expense Premium Amortization Unamortized Premium Carrying Value 01/01/2021 $ 901,670 21,670 $ 18,570 06/30/2021 $ 3,100 57,200 $ 57,200 15,284 12/31/2021 06/30/2022 54,100 $ 53,914 53,717 53,508 3,286 3,483 898,058 894,446 890,963 57,200 11,801 12/31/2022 8,109 887,271 883,358 06/30/2023 53,287 4,196 57,200 57,200 57,200 343,200 3,692 3,913 3,358 21,670 12/31/2023 0 880,000 53,842 321,530 $ Total $ $