Discount-Mart issues $12 million in bonds on January 1, 2021. 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 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 $360,000 360,000 360,000 360,000 $414,766 416,957 419,235 421,605 $54,766 56,957 59, 235 61,605 Carrying Value $10,369,160 10,423,926 10,480,883 10,540,118 10,601,723 What is the market annual rate of interest on the bonds? (Hint: Be sure to provide the annual rate rather than the six month rate) (Do not round your Intermediate calculations.) Multiple Choice 6, O 3% C What is the market annual rate of interest on the bonds? (Hint: Be sure to provide the annual rate rather than the six-month rate.) (Do not round your intermediate calculations.) Multiple Choice 6% 3% 0 B% 7%