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:

Payment		Cash Payment		Effective Interest		Increase in Balance		Outstanding Balance
								6,737,407
1		252,000		269,496		17,496		6,754,903
2		252,000		270,196		18,196		6,773,099
3		252,000		270,924		18,924		6,792,023
4		252,000		271,681		19,681		6,811,704
5		252,000		272,468		20,468		6,832,172
6		252,000		273,287		21,287		6,853,459
~		~		~		~		~
~		~		~		~		~
~		~		~		~		~
38		252,000		326,676		74,676		8,241,568
39		252,000		329,663		77,663		8,319,231
40		252,000		332,769		80,769		8,400,000

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?