For the next 3 Questions: Round your answer to the nearest dollar, such as 12345. (No need to write $ as $ is already in

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For the next 3 Questions:
Round your answer to the nearest
dollar, such as 12345. (No need to write $ as $ is
already in front of the box.) (Allowance is set + or -
$1.)
Use the effective interest rate method.
The following information pertains to a bond issue of the
VWX Corporation:
Maturity value: $1,000,000
Maturity date: December 31, 2023
Stated interest rate (Coupon rate): 5.25%
Interest payments are made annually on December
31st
Date of issue: January 1, 2016
Effective (market) interest rate (Yield to maturity) at
issue: 4.75%
The VWX's interest expense in 2021 is $Answer. ???
On December 31, 2021, when the market interest rate (=the yield
to maturity) of the bond is 4.20%, VWX de-recognized entire bond by
paying the market value +
$5,000.
Determine the amount of the gain or loss on the bond
de-recognition. Assume the coupon is paid before the bond
de-recognition, and the bond was completely repurchased on
12/31/2021.
Answer ????
(If it is a loss, express the amount by a negative
number using – sign in front of the amount, such as
-123.)