What is the stated annual rate of interest on the bonds?

What is the interest expense on the bonds for the year ended December 31, 2022?

Discount-Mart issued ten thousand $1,000 bonds on January 1, 2021. The bonds have a 10-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds. Payment Effective Interest Decrease in Balance Cash HM 300,000 300,000 300,000 300,000 345,639 347,464 349,363 45,639 47,464 49,363 Outstanding Balance 8,640,967 8,686,606 8,734,070 8,783,433