Completing a Bond Amortization Table (Effective Interest Rate Method) Cagney Company sold $180,000 of bonds on July 1, 2022. A portion of the amortization table appears below. Interest Expense Discount on Bonds Discount on Bonds Cash Payment Period (Credit) 12/31/23 $7,380 6/30/24 12/31/24 7,380 ? (Debit) $7,857 Payable (Credit) Payable Balance $477 $4,912 499 4,413 ? 7,879 Carrying Value $175,088 175,587 Required: 1. Indicate the stated interest rate on these bonds. Round your answer to one decimal place. 96 2. Calculate the effective annual interest rate on these bonds. Round your antwer to one decimal place. % 3. Determine the interest expense and discount amortization for the interest period ending December 31, 2024. If required, round your answers to the nearest whole dollar. Cash Payment Interest Expense Discount on Bonds Discount on Bonds Period 12/31/23 6/30/24 (Credit) $7,380 7,380 12/31/24 (Debit) $7,857 7,879 Payable (Credit) $477 499 Payable Balance $4,912 4,413 Carrying Value $175,088 175,587 4. Determine the liability balance after the interest payment is recorded on December 31, 2024. If required, round your answer to the nearest whole dollar.