Hollis Co. owns a deep-discount bond. The bond has a total maturity value of $250,000. Ace paid $172,176 (rounded) for the bond on the date it was issued (December 31, 2020) by Maspeth Co. Interest is compounded annually, and the bond matures ten years from the date it was issued. What is the implied rate of interest on the bond? (Round your answer to one decimal place, c.g., 10.9%) Edit View Insert Format Tools Table 12pt Paragraph BIVA e to P O words