Problem 9-5B Understand a bond amortization schedule (LO9-5)

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

Temptation Vacations issues $59 million in bonds on January 1, 2021, that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below:

Required information Problem 9-5B Understand a bond amortization schedule (LO9-5) [The following information applies to the questions displayed below.] Temptation Vacations issues $59 million in bonds on January 1, 2021, that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (1) (2) Cash Paid for (3) Interest (5) Carrying (4) Decrease in Carrying Value Expense Date Interest 1/1/2021 6/30/2021 $2,360,000 12/31/2021 2,360,000 Value $65,299,747 65, 225, 238 65, 148, 121 $2,285,491 2,282,883 $74,509 77,117 Problem 9-5B Part 1 Problem 9-5B Part 2 2. What is the original issue price of the bonds? (Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000)) Issue price Problem 9-5B Part 3 3. What is the face amount of the bonds? (Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000)) Face amount Problem 9-5B Part 4 4. What is the stated annual interest rate? Stated annual interest rate 1/1/2021 6/30/2021 $2,360,000 12/31/2021 2,360,000 $2,285,491 2,282,883 $74,509 77,117 $65, 299, 747 65, 225, 238 65, 148, 121 Problem 9-5B Part 5 5. What is the market annual interest rate? (Round your answer to the nearest whole percent.) Market annual interest rate 12/31/ 2021 2,360, UUD 2,202,00) 1,117 55,140,121 Problem 9-5B Part 6 6. What is the total cash paid for interest assuming the bonds mature in 20 years? (Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000)) Total cash interest