Question 6 of 8 0.5/1 View Policies Show Attempt History Current Attempt in Progress Oriole Company sells 8% bonds having a maturity value of $1.420,000 for $1,312,340.The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. (a) Your answer is correct. - Determine the effective-interest rate. (Round answer to 0 decimal places, e.g. 18%.) The effective-interest rate 10 96 Question 6 of 8 0.5/1 (b) Set up a schedule of interest expense and discount amortization under the effective-Interest method. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.$. 38,548.) Schedule of Discount Amortization Effective Interest Method Interest Discount Expense Amortized Year Interest Payable Carrying Amount of Bor Jan. 1, 2020 $ $ 13 Dec. 31, 2020 1312340 Dec. 31, 2021 Dec. 31, Question 6 of 8