Question 3 of 6 7.5/15 E View Policies Show Attempt History Current Attempt in Progress Cullumber Company sells 8% bonds having a maturity value of $1,550,000 for $1.432.484. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1 (a) Your answer is correct. Determine the effective interest rate. (Round answer to 0 decimal places, e.g. 18%) The effective interest rate 10 % e Textbook and Media Attempts: 1 of 3 used VUESLUIJUI 7.5/15 III Set up a schedule of interest expense and discount amortization under the effective interest method. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places. e.3. 38,548.) Schedule of Discount Amortization Effective-Interest Method Year Interest Payable Interest Expense Discount Amortized Carrying Amount of Bon Jan 1. 2020 $ 124000 $ $ $ Dec. 31. 2020 124000 Dec 31 2021 124000 Dec 31, 2022 124000 Dec. 31 124000 X C Question 3 of 6 7.5/15 Year Interest Payable Interest Expense Discount Amortized Carrying Amount of Bon Jan 1. 2020 $ 124000 $ $ Dec. 31. 2020 124000 Dec 31. 2021 124000 Dec. 31. 2022 124000 Dec. 31, 2023 124000 Dec. 31, 2024 124000