On January 1, 2021. Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Cash Effective Increase in Outstanding Payment Payment Interest Balance Balance 6,221,759 356, eee 373, 306 17,306 6,239,265 356,eee 374,344 18,344 6,257,499 356, eee 375,445 19,445 6,276,854 356, Bee 376,611 20,611 6, 297,465 356, eee 377, 848 21,848 6,319,313 356, eee 379, 159 23, 159 6, 342,472 %DOWN 38 356, eee 356,809 356, Bee 585,452 514,419 523,925 149,452 158,419 167,925 8,573,656 8,732, 075 8,900,00 40 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? 1. 2. 3. 4. years Face amount Initial selling price Term to maturity Interest is determined by what approach? Annual interest rate Effective annual interest rate Total cash interest paid Effective interest expense 5. 6. % % 7. 8