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:

Payment	Cash Payment	Effective Interest	Increase in Balance	Outstanding Balance
				4,893,518
1	280,000	293,611	13,611	4,907,129
2	280,000	294,428	14,428	4,921,557
3	280,000	295,293	15,293	4,936,850
4	280,000	296,211	16,211	4,953,061
5	280,000	297,184	17,184	4,970,245
6	280,000	298,215	18,215	4,988,460
~	~	~	~	~
~	~	~	~	~
~	~	~	~	~
38	280,000	397,547	117,547	6,743,328
39	280,000	404,600	124,600	6,867,928
40	280,000	412,072	132,072	7,000,000

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?
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?