Lamar Inc issued bonds on January 1, 2020. Lamar's accountant has prepared the following amortization schedule for the life of the bonds Effective Interest Decrease in Balance Cash Interest Date 1/1/20 6/30/20 12/31/20 6/30/21 12/31/21 6/30/22 12/31/22 6/30/23 12/31/23 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 6,211 6,187 6,163 6,137 6,112 6,085 6,057 6,028 789 813 837 863 888 915 Outstanding Balance 207,020 206,231 205,418 204,581 203,718 202,830 201,915 200,972 200,000 943 972 The bonds were issued at: a. Par Value b. A Premium c. A Discount d. There is not enough information provided to answer this question. What is the annual stated interest rate on the bonds? a. 7% b. 3.50% c. 14% d. 6% What is the annual effective interest rate on the bonds? a. 7% b. 3.50% c. 14% d. 6% At what price were the bonds issued? What is the maturity (face) value of the bonds? How many years until maturity