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 $900000Bond term 20 yearsStated interest rate 10% (paid semiannually)Market interest rate 8%Issue date July 1 2013Interest payment dates June 30 and December 31Present Value Factors: 4% 5% 8% 10%Present value of 1 for 20 periods 0.456 0.377 0.215 0.149Present value of 1 for 40 periods 0.208 0.142 0.046 0.022Present value of annuity for 20 periods 13.590 12.462 9.818 8.514Present value of annuity for 40 periods 19.793 17.159 11.925 9.779 (Use only the present value factors shown above to make calculations.)17. On July 1 2013 the amount the bonds should sell for is$___________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$___________
