The following amortization and interest schedule reflects the issuance of 10-year bonds by Kingbird Corporation on January 1, 2014, and the subsequent interest payments and charges. The companys year-end is December 31, and financial statements are prepared once yearly.

Amortization Schedule
Year		Cash		Interest		Amount Unamortized		Carrying Value
1/1/2014						$55,358		$ 165,242
2014		$22,060		$24,786		52,632		167,968
2015		22,060		25,195		49,497		171,103
2016		22,060		25,665		45,892		174,708
2017		22,060		26,206		41,746		178,854
2018		22,060		26,828		36,978		183,622
2019		22,060		27,543		31,495		189,105
2020		22,060		28,366		25,189		195,411
2021		22,060		29,312		17,937		202,663
2022		22,060		30,399		9,598		211,002
2023		22,060		31,658				220,600

Indicate whether the bonds were issued at a premium or a discount.

Indicate whether the amortization schedule is based on the straight-line method or the effective-interest method.

Determine the stated interest rate and the effective-interest rate. (Round answers to 0 decimal places, e.g. 18%.)