On January 1. Year 1. Wayne Company issued bonds with a face value of 5600.000, o 65 stated rate of interest, and a 10 year terin, Interest is psyable in cash on December 31 of each year. Wayne uses the stratght -line method to amortize bond discounts and premiurn. Which of the following statements is true if Wayne issued the bonds for 96 ? Mingie choice The market rate of interedt was equal to the stated tate of intereat The market rate of intereat was fower than the stated rate of interest. The market raite of interest was higher than the staled mtereut rafe