Discount-Mart issues 512 million in bonds on January 1 2021. The bonds have a seven-year term and pay interest semiannually on June 30 and December 31 each year, Below is a partial bond amortization schedule for the bonds Interest Expense Increase in Carrying Valve Cash Paid Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 $480,000 480,000 480.000 480,000 $540,608 543,639 546,821 550,162 $60.608 63,639 66,821 70.162 Carrying Value 510,812,163 10,672,771 10,936,410 11,003, 231 11,073,393 What is the stated 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 & 45