Refer to P14-11 and Taylor Corp.

Instructions
Repeat the instructions of P14-11 assuming that Taylor Corp. uses the effective interest method. Provide an effective interest table for the bonds for two interest payment periods.

Data From P14-11:

On April 1, 2017, Taylor Corp. sold 12,000 of its $1,000 face value, 15-year, 11% bonds at 97. Interest payment dates are April 1 and October 1, and the company uses the straight-line method of bond discount amortization.
On March 1, 2018, Taylor extinguished 3,000 of the bonds by issuing 100,000 shares. At this time, the accrued interest
was paid in cash to the bondholders whose bonds were being extinguished. In a separate transaction on March 1, 2018,
120,000 of the company's shares sold for $31 per share.