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 Cash Payment Effective Interest Balance Balance 5,694,713 123456 222 213,000 227,789 14,789 5,709,502 213,000 228,380 15,380 5,724,882 213,000 228,995 15,995 5,740,877 213,000 229,635 16,635 5,757,512 213,000 213,000 230,300 17,300 5,774,812 230,992 17,992 5,792,804 N N N N N N N N N N N N N N N 38 213,000 276,119 63,119 6,966,089 39 213,000 278,644 65,644 7,031,733 40 213,000 281,267 68,267 7,100,000 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?