MacBride Enterprises sold $200,000 of bonds on December 31, 2018. A portion of the amortization table appears below.

Period	Cash Payment (Credit)		Interest Expense (Debit)		Premium on Bonds Payable (Debit)		Premium on Bonds Payable Balance (Credit)		Bond Payable Carrying Value (Credit)
At issue							$6,457		$206,457
06/30/19	$9,000		$8,465		$535		5,922		205,922
12/31/19	9,000		8,443		557		5,365		205,365
06/30/20	9,000		8,420		580		4,785		204,785
12/31/20	?		?		?		?		?

Required:

1. Indicate the stated annual interest rate on these bonds. %

2. Calculate the effective annual interest rate on these bonds. (Note: Round to the nearest 0.1%.) %

3. Determine the interest expense and premium amortization for the interest period ending December 31, 2020. (Note: Round to the nearest dollar.)

Period	Cash Payment (Credit)					Interest Expense (Debit)					Premium on Bonds Payable (Debit)						Premium on Bonds Payable Balance (Credit)					Bond Payable Carrying Value (Credit)
At issue																	$6,457					$206,457
6/30/19	$9,000					$8,465					$535						5,922					205,922
12/31/19	9,000					8,443					557						5,365					205,365
6/30/20	9,000					8,420					580						4,785					204,785
12/31/20