Exercise 14-7 Bonita Company sells 10% bonds having a maturity value of $1,450,000 for $1,383,431. The bonds are dated January 1, 2017, and mature January 1,2022 . Interest is payable annually on January 1. (a) Determine the effective-interest rate using the appropriate function in Microsoft Excel. (b) Set up a schedule of interest expense and discount amortization under the effective-interest method