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
				6,378,750
1	308,000	318,938	10,938	6,389,688
2	308,000	319,484	11,484	6,401,172
3	308,000	320,059	12,059	6,413,231
4	308,000	320,662	12,662	6,425,893
5	308,000	321,295	13,295	6,439,188
6	308,000	321,959	13,959	6,453,147
~	~	~	~	~
~	~	~	~	~
~	~	~	~	~
38	308,000	374,516	66,516	7,556,829
39	308,000	377,841	69,841	7,626,670
40	308,000	381,330	73,330	7,700,000

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?