Devon Harris Company sells8% bonds having a maturity value of $2,684,000for $2,386,404. The bonds are dated January 1, 2014, and mature January 1, 2019. Interest is payable annually on January 1.

	Your answer is incorrect. Try again.

Determine the effective-interest rate.

The effective-interest rate

%

LINK TO TEXT

	Your answer is partially correct. Try again.

Set up a schedule of interest expense and discount amortization under the effective-interest method.(Round answers to 0 decimal places, e.g. 38,548.)

Schedule of Discount Amortization Effective-Interest Method
Year	Cash Paid	Interest Expense	Discount Amortized	Carrying Amount of Bonds
Jan. 1, 2014	$	$	$	$
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2018					*