QUESTION 6 Bleay's Squash Ltd. sold $1,000,000 of 4.0%, five-year bonds for $1,022,753 when the market rate of interest was 3.5%. Interest is payable semi-annually. The costs directly associated with issuing the bonds totaled $25,000. What was the effective rate of interest per period on this bond issue? a. 2.0000% b. 1,4827% c.2.0250% d. 1.7500%