On December $31,2024,$ Wayne, Inc. sold $$4,000,000($face value$)$ of bonds. The bonds are dated

December $31,2024,$ pay interest annually on December $31,$ and mature on December $31,2034.$ The

following schedule was prepared by the accountant for $2025$:

Instructions

Based on the above information, answer the following questions. $($Round your answer to the nearest dollar or percent.$)$

What is the stated interest rate for this bond issue?

What is the market interest rate for this bond issue?

What was the selling price of the bonds as a percentage of the face value?

If the Wayne, Inc. uses $$3,950,000$ to redeem the bonds on Jan. $1,2026.$ How much is the gains or losses on redemption?