Stanford issues bonds dated January 1, 2017, with a par value of $258,000. The bonds’ annual contract rate is 6%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 8%, and the bonds are sold for $244,471. Prepare an amortization table using the effective interest method to amortize the discount for these bonds
