On January 1, 2016, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Effective Increase in Outstanding Interest Balance Payment Balance 7,218,650 7,237,396 270,000 288,746 270,000 289,496 18,746 19,496 7,256,892 270,000 20,276 290,276 7,277,168 291,087 21,087 7,298,255 270,000 7,320,185 270,000 291,930 21,930 270,000 292,807 22,807 7,342,992 270,000 350,010 8,830,251 38 80,010 8,913,461 39 270,000 353,210 83,210 270,000 356,539 9,000,000 40 86,539 Required: 1. What is the face amount of the bonds? Face amount 2. What is the initial selling price of the bonds? Initial selling price 3. What is the term to maturity in years? Term to maturity years