Completing a Bond Amortization Table (Effective Interest Rate Method)

MacBride Enterprises sold $100,000 of bonds on January 1, 2024. A portion of the amortization table appears below.

Period	Cash Payment (Credit)		Interest Expense (Debit)		Premium on Bonds Payable (Debit)			Premium on Bonds Payable Balance			Carrying Value
At issue								$3,585			$103,585
6/30/24	$3,000		$2,590		$410			3,175			103,175
12/31/24	3,000		2,579		421			2,754			102,754
6/30/25	3,000		2,569		431			2,323			102,323
12/31/25	?		?		?			?			?

Required:

1. Indicate the stated annual interest rate on these bonds. fill in the blank 1 %

2. Calculate the effective annual interest rate on these bonds. Round your answer to one decimal place. fill in the blank 2 %

3. Determine the interest expense and premium amortization for the interest period ending December 31, 2025. If required, round your answers to the nearest whole dollar.

Period	Cash Payment (Credit)		Interest Expense (Debit)		Premium on Bonds Payable (Debit)			Premium on Bonds Payable Balance			Carrying Value
At issue								$3,585			$103,585
6/30/24	$3,000		$2,590		$410			3,175			103,175
12/31/24	3,000		2,579		421			2,754			102,754
6/30/25	3,000		2,569		431			2,323			102,323
12/31/25	fill in the blank 3		fill in the blank 4		fill in the blank 5			fill in the blank 6			fill in the blank 7