On January 1, 2018, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below:

Payment		Cash Payment		Effective Interest		Increase in Balance		Outstanding Balance
								7,218,650
1		270,000		288,746		18,746		7,237,396
2		270,000		289,496		19,496		7,256,892
3		270,000		290,276		20,276		7,277,168
4		270,000		291,087		21,087		7,298,255
5		270,000		291,930		21,930		7,320,185
6		270,000		292,807		22,807		7,342,992
~		~		~		~		~
~		~		~		~		~
~		~		~		~		~
38		270,000		350,010		80,010		8,830,251
39		270,000		353,210		83,210		8,913,461
40		270,000		356,539		86,539		9,000,000

Required: 1. What is the face amount of the bonds? 2. What is the initial selling price of the bonds? 3. What is the term to maturity in years? 4. Interest is determined by what approach? 5. What is the stated annual interest rate? 6. What is the effective annual interest rate? 7. What is the total cash interest paid over the term to maturity? 8. What is the total effective interest expense recorded over the term to maturity?