Completing a Bond Amortization Table (Effective Interest Rate Method) Cagney Company sold $190,000 of bonds on July 1, 2022. A portion of the amortization table appears below. Cash Payment Interest Expense Discount on Bonds Discount on Bonds Payable Period 12/31/23 6/30/24 12/31/24 (Credit) $7,980 (Debit) Payable (Credit) Balance Carrying Value $8,494 $514 $4,841 $185,159 7,980 8,517 537 4,304 185,696 ? Required: 1. Indicate the stated interest rate on these bonds. Round your answer to one decimal place. 8.4 % 2. Calculate the effective annual interest rate on these bonds. Round your answer to one decimal place. 9.2 % 3. Determine the interest expense and discount amortization for the interest period ending December 31, 2024. If required, round your answers to Cash Payment Interest Expense Discount on Bonds Discount on Bonds Payable Period (Credit) (Debit) Payable (Credit) Balance Carrying Value 12/31/23 $7,980 $8,494 $514 $4,841 6/30/24 12/31/24 7,980 7,980 v 8,517 537 4,304 $185,159 185,696 4. Determine the liability balance after the interest payment is recorded on December 31, 2024. If required, round your answer to the nearest whe Feedback Check My Work