Exercise 9-81 (Algorithmic) Completing a Bond Amortization Table (Effective Interest Rate Method) Cagney Company sold $180,000 of bonds on July 1, 2018. A portion of the amortization table appears below. Cash Payment (Credit) Discount on Bonds Payable (Credit) Interest Expense (Debit) $8,032 Discount on Bonds Payable Balance Period 12/31/19 $7,560 $472 $4,923 Carrying Value $175,077 175,571 6/30/20 7,560 8,054 494 4,429 12/31/20 Required: 1. Indicate the stated interest rate on these bonds. 2. Calculate the effective annual interest rate on these bonds (rounded to the nearest 0.1%). 3. Determine the interest expense and discount amortization for the interest period ending December 31, 2020. If required, round your answers to the nearest whole dollar. Cash Payment (Credit) Interest Expense (Debit) Discount on Bonds Payable (Credit) $472 Discount on Bonds Payable Balance Period 12/31/19 $8,032 $7,560 7,560 $4,923 4,429 Carrying Value $175,077 175,571 6/30/20 8,054 494 12/31/20 4. Determine the liability balance after the interest payment is recorded on December 31, 2020. If required, round your answer to the nearest whole dollar