On January 1 of this year, Olive Corporation issued bonds. Interest is payable once a year on December 31. The bonds mature at the end of four years. Olive uses the effective-interest amortization method. The partially completed amortization schedule below pertains to the bonds:5. How much cash will be disbursed for interest each period and in total over the life of the bonds?

6. What is the coupon rate? (Enter your answer as a percentage rounded to 1 decimal place (i.e. 0.123 should be entered as 12.3).)

Date January 1, Year 1 End of Year 1 End of Year 2 End of Year 3 End of Year 4 Cash 3,600 3,600 3,600 3,600 Interest Amortization Balance 48,813 183 48,630 3,417 196 3,404 48,434 210 3,390 48,224 224 3,376 48,000