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ABC company issued a bond on Jan. 1st, 2018. ABC Company prepared the following amortization schedule for the bond. DateCash PaidInterest ExpenseDecrease in Carrying ValueCarrying

ABC company issued a bond on Jan. 1st, 2018. ABC Company prepared the following amortization schedule for the bond.

DateCash PaidInterest ExpenseDecrease in Carrying ValueCarrying Value1/1/2018$104,21212/31/20187000$6,253$747103,46512/31/20197,0006,208792102,67312/31/20207,0006,160840101,83312/31/20217,0006,110890100,94312/31/20227,0006,057943100,000

What is the annual stated interest rate on the bonds?

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