Multiple Cholce 12% 5% 11% 10%

Discount-Mart issues S16 million in bonds on January 1, 2024. The bonds have e eight-year term end pay interest semiannually on June 30 end December 31 each year. Below is a partial bond amortization schedule for the bonds: Date 81/81/2824 86/38/2824 12/31/2824 86/38/2825 12/31/2825 Cash Paid Interest Expense Increase in Carrying Value $888, eee $862, 983 $62 , 983 888, eee 866, 762 66,762 see, eee 878, 768 78,768 see, eee 875,e14 75,814 Carrying Value 14, 446, 848 14, 583 , 578 14, 658,584 What is the stated annual rete of interest on the bonds? (Hint: Be sure to provide the annual rate rether than the six-month rate.) (Do not round your intermediate calculations.) Multlple Cholce O O O O