9. Discount-Mart issues $10 million in bonds on January 1, 2015. 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 11/2015 6/30/2015 12/31 2015 6/30/2016 12/31/2016 $300.000 300,000 300,000 300.000 $345.639 347.464 349.363 351,337 $45.639 47.464 49.363 51.337 Carrying Value $8,640.967 8.686.606 8.734,070 8.783,433 8.834,770 What is the stated annual rate of interest on the bonds? A. 3% B. 4% C. 6% D. 8% E. 10%