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
								5,774,920
1		216,000		230,997		14,997		5,789,917
2		216,000		231,597		15,597		5,805,514
3		216,000		232,221		16,221		5,821,735
4		216,000		232,869		16,869		5,838,604
5		216,000		233,544		17,544		5,856,148
6		216,000		234,246		18,246		5,874,394
~		~		~		~		~
~		~		~		~		~
~		~		~		~		~
38		216,000		280,008		64,008		7,064,202
39		216,000		282,568		66,568		7,130,770
40		216,000		285,230		69,230		7,200,000

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?