Please help me with part b. I am having trouble. please show formulas and explain and be clear. Thank you.

Sage Company sells 9% bonds having a maturity value of $1,410,000 for $1,356,548. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. (a) Your answer is correct Determine the effective interest rate. (Round answer to decimal places. 189.) The effective-interest rate 10 (b) Set up a schedule of interest expense and discount amortization under the effective interest method. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 38,548.) Schedule of Discount Amortization Effective-Interest Method Interest Interest Discount Carrying Year Payable Expense Amortized Amount of Bonds Jan 1, 2020 126900 135654.6 Dec 31, 2020 126900 Dec 31, 2021 126900 Dec 31, 2022 126900 Dec. 31, 2023 126900 Dec 31, 2024 126900