ABC Co. issued callable bonds on January 1, 2018. ABC's accountant has projected the following amortization schedule from issuance until maturity: Effective Decrease in Cash interest Outstanding balance Date interest balance 1/1/2018 $ 207,020 $ 6,211 $ 789 6/30/2018 12/31/2018 $ 7,000 7,000 7,000 6,187 813 6,163 837 7,000 863 6/30/2019 12/31/2019 6/30/2020 12/31/2020 6/30/2021 12/31/2021 888 206,230 205,417 204,580 203,717 202,829 201,913 200,971 200,000 6,137 6,112 6,085 6,057 6,029 7,000 7,000 915 943 7,000 7,000 971 What is the annual stated interest rate on the bonds? Select one: a. 6% b. 7% c. 6.2% d. 3.5% Clear my choice MacBook Pro