Accounting help

NEED IN 2 to 3 hours from now(with calculations)

USE THE FOLLOWING INFORMATION FOR QUESTIONS 17 – 20.

Assume that the following information is relevant for one of the bond issues of Fran Company:

Face value                                  $900,000

Bond term                                   20 years

Stated interest rate                   10%   (paid semiannually)

Market interest rate                 8%

Issue date                                                     July 1, 2013

Interest payment dates            June 30 and December 31

Present Value Factors:                                4%            5%            8%            10%

Present value of 1 for 20 periods                                     0.456         0.377         0.215         0.149

Present value of 1 for 40 periods                                     0.208         0.142         0.046         0.022

Present value of annuity for 20 periods         13.590       12.462       9.818         8.514        

Present value of annuity for 40 periods         19.793       17.159       11.925       9.779

 (Use only the present value factors shown above to make calculations.)

17.        On July 1, 2013, the amount the bonds should sell for is

$___________

18.        The total amount of bond interest to be paid in cash over the life of the bonds is:

$_____________

19.        The  amount of interest expense for 2013  using the effective interest method of amortization is

$__________  (show exact amount including cents)

20.        The amount of bond interest paid in cash for 2014 is

$___________