The notes to the Helpful Ltd. financial statements reported the following data on December 31, Year 1 (end of the fiscal year): Bonds Payable 3% due on December 31, Year 8 ... $5,000,000 Less Discount ... ? Notes Payable 7% payable in $50,000 annual installments starting in year 5 ... $300,000 Ltd. amortizes bond discount by the effective-interest method and pays all interest amounts at December 31. Assume the market interest rate on January 1 of year 1, the date of issuance of the bonds, is 7%. Answer the following questions about Helpful Ltd.'s long-term liabilities: a. Using the PV function in Excel, what is the issue price of the bonds? b. What is the maturity value of the 7% bonds? c. What is Helpful Ltd's annual cash interest payment on the 7% bonds? d.What is the carrying amount of the 7% bonds at December 31st, year 1? Prepare an amoritzation table through December 31, Year 4 for the 7% (round all amounts to the nearest dollar) How much is Helpful Ltd's the year ended December 31, year 4? Begin by preparing the amoritization table through December 31st Year 4 for the 7% bonds

TABLE MUST CONTAIN: Interest Payment, Interest Expense,Discount Amortzation, Discount Account Balance, Bond Carrying Amount

How much is Hepful ltd's interest expenses on the 7% bonds for the year ended December 31, Year 4?