On January 1, 2024, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Cash Effective Increase Outstanding Payment Payment Interest in Balance Balance 1234561668 334 6,627,273 320,000 331,364 11,364 6,638,637 320,000 331,932 11,932 320,000 332,528 12,528 320,000 333,155 13,155 320,000 333,813 13,813 320,000 334,503 6,650,569 14,503 6,663,097 6,676,252 6,690,065 6,704,568 THE 320,000 389,107 69,107 7,851,247 38 40 39 320,000 392,562 320,000 396,191 72,562 7,923,809 76,191 8,000,000 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? 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 4. Interest is determined by what approach? 5. Stated annual interest rate 6. Effective annual interest rate 7. Total cash interest paid 8. Effective interest expense years % %