Business, 25.11.2020 05:30 floresjacqueline

On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Payment Cash Payment Effective Interest Increase in Balance Outstanding Balance 6,015,542 1 225,000 240,622 15,622 6,031,164 2 225,000 241,247 16,247 6,047,411 3 225,000 241,896 16,896 6,064,307 4 225,000 242,572 17,572 6,081,879 5 225,000 243,275 18,275 6,100,154 6 225,000 244,006 19,006 6,119,160 ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ 38 225,000 291,675 66,675 7,358,543 39 225,000 294,342 69,342 7,427,885 40 225,000 297,115 72,115 7,500,000 Required: 1. What is the face amount of the bonds

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