For each of the following, state whether True or False:

If you repurchase stock at an amount less than its original issue price, you can record a gain.

If you repurchase stock and then reissue it at a higher price, you can record a gain.

Interest expense is computed using the effective rate of interest, not the stated rate.

Cash interest paid is computed using the stated rate of interest, not the effective rate.

Non-interest-bearing notes payable have no interest expense.