On July 1, 2020, the Whisker Co. issued $1,000,000 of 20-year semi-annual coupon bonds with a 6% stated rate. The bonds were issued at 102. The company uses the effective interest method. What is the implied (or effective) annual interest rate? How much interest expense will Whisker record for the year ending 12/31/2020? Do not round your interest rate by more than 3 decimal places e.g. 5.678% Effective rate=