2024 – 1 Bell Corp issues a bond with the following features Principal 1 000Coupon 0 Maturity 5 yearsThe

1. Bell Corp. issues a bond with the following features:Principal $ 1,000Coupon 0%Maturity 5 yearsThe current interest rate on comparable debt is 7 percent, so the bond initially sells for $ 713. What is the accrued interest on the bond for each of the next five years?2. You purchase a 6 percent $ 10,000 bond for $ 9,180 plus $ 156 in accrued interest for a total outlay of $ 9,336. Subsequently you receive a $ 300 interest payment. You are in the 20 percent income tax bracket. How much tax do you owe on the interest payment?3. You sell a 6 percent $ 10,000 bond for $ 9,180 plus $ 156 in accrued interest for a total of $ 9,336. Soon thereafter the company makes a $ 300 interest payment. You are in the 20 percent income tax bracket.a) How much tax do you owe on the interest?b) Compare your answers for Problems 2 and 3. Why do they differ?