Current Attempt in Progress

Daniel Jackson Company sells $8\%$ bonds having a maturity value of $$2,025,000$ for $$1,871,471\mathrm{.}00.$ The bonds are dated January $1,2025,$ and mature January $1,2030.$ Interest is payable annually on January $1.$

Click here to view factor tables.

$($a$)$

Your answer is correct.

Determine the effective$-$interest rate. $($Round present value factor to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.18\%.)$

The effective$-$interest rate

$\%$

eTextbook and Media

Assistance Used

Attempts: $1$ of $4$ used

$($b$)$

Set up a schedule of interest expense and discount amortization under the effective$-$interest method. $($Round intermediate Answer part B please and explain calculations for each blank