On March $1,2017,$ Taft Corporation issues $10-$year bonds at $102,$ dated January $1,2017,$ with a par

value of $$500,000.$ These bonds have an annual interest rate of $6$ percent, payable semiannually on

January $1$ and July $1.$ Because Taft issues the bonds between interest dates, what are the proceeds

from issuing the bonds $($the debit to CASH at issuance$)?$

$3.$ On January $1,2014,$ Huff Co$.$ issued a $$4,000,000,$ zero interest $(0\%),10-$year note payable for

$$2,575,711.$ What was the Effective$/$Market Annual interest rate when the note was issued?