Greger Peterson is a senior manager at a public accounting firm making a base salary of $180,000 a year ($15,000 per month). Employers are required to withhold a 6.2% Social Security tax up to a maximum base amount and a 1.45% Medicare tax with no maximum. Assuming the Social Security maximum base amount is $128,400, through what month will Social Security be withheld? Multiple Choice Social Security will be withheld through the month of January O Social Security will be withheld through the entire year. O Social Security will be withheld through the month of October. Social Security will be withheld through the month of September X2 issued callable bonds on January 1, 2021. The bonds pay interest annually on December 31 each year. X2's accountant has projected the following amortization schedule from issuance until maturity: Interest Cash Paid Expense Decrease in Carrying Value Date 01/01/2021 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 $7,000 7,000 7,000 7,000 7,000 $ 6,253 6,208 6,160 6,110 6,057 $ 747 792 840 890 943 Carrying Value $104,212 103,465 102,673 101,833 100,943 100,000 The X2 bonds have a life of: Multiple Choice 3 years. 4 years Tony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has projected the following amortization schedule from issuance until maturity: Interest Expense Increase in Carrying Value Cash Paid Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 06/30/2023 12/31/2023 $10,000 10,000 10,000 10,000 10,000 10,000 $11,866 11,959 12,057 12,160 12,268 12,379 $ 1,866 1,959 2,057 2,160 2,268 2,379 Carrying Value $ 237,311 239,177 241,136 243,193 245,353 247,621 250,000 What is the annual market interest rate on the bonds? (Hint: Be sure to provide the annual rate rather than the six-month rate.) (Do not round your intermediate calculations.)