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help nnectmeducation.com/low.connect hom Her 8 and 96 Help Save Smit Discount-Mart issues...

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nnectmeducation.com/low.connect hom Her 8 and 96 Help Save Smit Discount-Mart issues $16 milion in bonds on January 1 202L The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds Cash Paid Interest Expense Increase in Carrying Value Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 $540,000 540.000 640,000 640,000 $700, 302 703, 317 706, 483 799,807 $50.382 63,317 66, 483 69,897 Carrying Value $14,005,846 14,065, 348 14,129,665 14, 195, 148 14, 265, 955 What is the stated annual rate of interest on the bonds? (Hint: Be sure to provide the annual rate rather than the six-month rate) Do not round your intermediate calculations.) Multiple Choice

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