38) Tomkin Library System issues $5 million in bonds on January 1, 2021 that pay interest semi- annually on June 30 and December 31. A portion of the bond amortization schedule appears below (note, premium account balance omitted from schedule due to space constraints): Cash Paid Interest Expense Decrease in Carrying Value Date 01/01/2021 06/30/2021 12/31/2021 $ 250,000 250,000 $220,000 218,800 $ 30,000 31,200 Carrying Value $ 5,500,000 5,470,000 5,438,800 What is the face amount of the bonds? A) $5,000,000 B) $5,470,000. C) $5,500,000 D) $5,438,800. 39) Using the information from the previous problem, what is the stated rate of interest? A) 7%. B) 8%. C) 9%. D) 10%