11 1 points Mickey Ltd issued debentures amounting to R 25 000 000 to Minnie Ltd on 1 December 2021. The debentures are a financial liability in the book Mickey Ltd and it is classified as financial liability at amortised cost in terms of IFRS 9, Financial instruments. Transaction costs incurred on issue date amounted to 2% of the debentures' face value of R 25 000 000. The debentures are redeemable at R 25 000 000 in five years' time and bea interest at 12% per annum until redemption date. Calculate the effective interest rate applicable to the debentures on issue date. 12.56% 12.24% None of the answers are correct. 12.00%