On December 31, 2020, Blossom, Inc. sold $3,950,000 (face value) of bonds. The bonds are dated December 31, 2020, pay interest annually on December 31, and will mature on December 31, 2020. The following schedule was prepared by the accountant for 2020. Annual Interest Period 1 Interest to be Paid (a1) $197,500 Stated interest rate Interest Expense eTextbook and Media $232,260 On the basis of the above information, answer the following questions. What is the stated interest rate for this bond issue? List of Accounts Amortization $34,760 % Unamortized Amount $79,000 44,240 Bond Carrying Value $3,871,000 3,905,760 limited Submit Answer

On December 31,2020, Blossom, Inc sold $3,950,000 (face value) of bonds. The bonds are dated December 31, 2020. pay interest aninually on December 31 , and will mature on December 31,2020 . The following schedule was prepared by the accountant for 2020 . On the basis of the above information, answer the following questions. (a1) What is the stated interest rate for this bond issue