Business, 25.11.2021 14:00 carlie4charlie

On January 1, 2021, Vacation Destinations issues $40 million of bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (1) (2) (3) (4) (5)
Cash Paid Interest Increase in Carrying
Date for Interest Expense Carrying Value Value
1/1/2021 $ 37,281,935
6/30/2021 $ 1,400,000 $ 1,491,277 $ 91,277 37,373,212
12/31/2021 1,400,000 1,494,928 94,928 37,468,140
What is the total cash paid for interest assuming the bonds mature in 10 years?

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On January 1, 2021, Vacation Destinations issues $40 million of bonds that pay interest semiannually...

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