On January 1, 2016, Central City issues a 20-year serial bond to finance improvements to the sever system. A total of $83,000,000 face value bonds were issued with the coupon and maturity rates as follows:

December 31, 2020 3.2% $5,000,000

December 31, 2025 3.5% $8,000,000

December 31, 2030 4.1% $10,000,000

December 31, 2031 4.1% $10,000,000

December 31, 2032 4.2% $10,000,000

December 31, 2033 4.3% $10,000,000

December 31, 2034 4.4% $15,000,000

December 31, 2035 4.5% $15,000,000

Central City received $83,600,000 from the bond issue. Find the NIC and TIC interest rates for the bond issue.