+ Homework Chapter 14 Question 1 of 5 -/1 View Policies Current Attempt in Progress Buffalo Company sells 8% bonds having a maturity value of $2,840,000 for $2,624,680. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. Determine the effective-interest rate. (Round answer to O decimal places, e.g. 18%.) The effective-interest rate % e Textbook and Media Assistance Used Set up a schedule of interest expense and discount amortization under the effective interest method. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 38,548.) Schedule of Discount Amortization Effective-Interest Method Interest Discount Expense Amortized Interest Payable Carrying Amount of B Year Jan 1. $ $ $ Homework Chapter 14 Question 1 of 5 -/1 E Set up a schedule of interest expense and discount amortization under the effective interest method. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 38,548.) Schedule of Discount Amortization Effective-Interest Method Interest Discount Expense Amortized Interest Payable Carrying Amount of Bonds $ $ $ 1