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 352,000 352,000 352,000 352,000 352,000 352,000 364,500 365,125 365, 781 366,470 367, 194 367,954 12,500 13,125 13,781 14, 470 15,194 15,954 Outstanding Balance 7,290,000 7,302,500 7,315,625 7,329,406 7,343,876 7,359,070 7,375,024 352,000 352,000 352,000 428,018 431,819 435,808 76,018 79,819 83,808 8,636,373 8,716,192 8,800,000 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. 2. 3. 7 years A. 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. Annual int 6. 1. 8