Stanford issues bonds dated January 1, 2021, with a par value of $260,000. The bonds' annual contract rate is 9%, and in

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Stanford issues bonds dated January 1, 2021, with a par value of$260,000. The bonds' annual contract rate is 9%, and interest ispaid semiannually on June 30 and December 31. The bonds mature inthree years. The annual market rate at the date of issuance is 12%,and the bonds are sold for $240,832.1. What is the amount of the discount onthese bonds at issuance?2. How much total bond interest expense willbe recognized over the life of these bonds?3. Prepare an effective interest amortizationtable for these bonds.