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: Increase in Outstanding Payment Cashi Payment Effective Interest Balance Balance 7,210,650 270,000 270,000 289,49619,496 288,746 18,746 7,237,396 7,256,892 270,000 290,276 20,276 7,277,160 270,000 291,087 21,087 7,290,255 270,000 291,930 21,930 7,320,185 270,000 292,007 22,007 7,342,992 " 38 270,000 350,010 80,010 0,830,251 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? 1. Face amount 2 Initial selling price 3. Term to maturity years 4. Interest is determined by what approach? % 5. Annual interest rate: