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On January 1 , 2 0 2 2 , WestCo issued $ 1 0 0 , 0 0 0 of 5 - year, 1 5

On January 1,2022, WestCo issued $100,000 of 5-year, 15% unsecured debentures at a net price of $87,769.46. Interest is payable annually, on the anniversary date of the bonds.a) Determine the effective interest rate or effective yield on the bonds. Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. (For example: 12.34%)Yield =17.09%b) Prepare an amortization schedule for the life of the bond, under the effective interest method. Please make sure your final answer(s) are accurate to 2 decimal places.

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