Question 20 of 20 -/10 E View Policies Current Attempt in Progress On June 30, 2021, Culver Inc, sold $1,214,000 (face value) of bonds. The bonds are dated June 30, 2021. pay interest semi-annually on December 31 and June 30, and will mature on June 30, 2024. The following schedule was prepared by the accountant for 2021; Semi-annual Interest to Interest Unamortized Bond Interest Period be Paid Expense Amortization Amount Amortized cost $63,735 $1.150.265 Dec 31, 2021 $37.027 $46,471 $9.444 54,291 1.1 On the basis of the above information, answer the following questions. What is the contractual rate of interest for this band issue? (Round answer to 2 decimal places, eg. 2.75.) ce to search IA