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
								6,015,542
1		225,000		240,622		15,622		6,031,164
2		225,000		241,247		16,247		6,047,411
3		225,000		241,896		16,896		6,064,307
4		225,000		242,572		17,572		6,081,879
5		225,000		243,275		18,275		6,100,154
6		225,000		244,006		19,006		6,119,160
~		~		~		~		~
~		~		~		~		~
~		~		~		~		~
38		225,000		291,675		66,675		7,358,543
39		225,000		294,342		69,342		7,427,885
40		225,000		297,115		72,115		7,500,000

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?