QUESTION 14 On January 1, Steiert Inc issued $4,000,000, 10% bonds for $4,756,000. The market rate of interest for these bonds is 9. Interest is payable annually on December 31. Steiert uses the effective interest method of amortizing bond discount/premium. At the end of the THIRD year, earnings will be through the amortization of the difference between stated and market interest. 1. Increased 2.decreased QUESTION 24 A $2,000,000, 10% bond paying quarterly interest is sold to yield 10% on January 1, 2021. The amount of cash received from the sale of the bond equals