On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and

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On January 1 2021 Tennessee Harvester Corporation Issued Debenture Bonds That Pay Interest Semiannually On June 30 And 1 (31.56 KiB) Viewed 9 times

On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Cash Effective Increase in Outstanding Payment Payment Interest Balance Balance 38 39 40 292,000 302,369 292,000 302,888 292,000 303,432 292,000 304,004 292,000 304,604 292,000 305,234 292,000 292,000 292,000 361,520 355,060 358,213 Iris pmount 10,369 10,888 11,432 12,004 12,604 13,234 63,060 66,213 69,520 6,047,387 6,057,756 6,068,644 6,080,076 6,092,080 6,104,684) 6,117,918. 7,164,267 7,230,480. 7,300,000 Required: 1. What is the face amount of the bonds? 2. What is the initial selling price of the bonds? 3. What is the term to maturity in years? 4. Interest is determined by what approach? 5. What is the stated annual interest rate? 6. What is the effective annual interest rate? 7. What is the total cash interest paid over the term to maturity? 8. What is the total effective interest expense recorded over the term to maturity?