D5. On 1/1/2001, Johnson Electric issued bonds with a total face value of $10,000,000. The bonds mature on 12/30/2020 (20-year bonds) and pay 7% annual interest rate. Interest payments are made annually each 12/31, beginning on 12/31/2001. The market interest rate for these bonds is 8%. Johnson's fiscal year ends on 12/31. On 1/1/2011 (ten years after issue) Johnson paid $10,100,000 to retire all the bonds by purchasing the bonds from a broker/dealer. What was the market rate of interest at time of retirement? Between 7% and 8% Greater than 8% Less than 7% Not enough information to determine rate at retirement