Required information Problem 9-6A (Algo) Understand a bond amortization schedule (LO9-5) [The following information applies to the questions displayed below.] On January 1, 2024, Paradise Hollow Resort issues $21 million of bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (1) Date (2) Cash Paid for Interest (3) Interest Expense (4) Increase in Carrying Value 1/1/2024 (5) Carrying Value $19,573,016 6/30/2024 12/31/2024 $735,000 735,000 $782,921 784,837 $47,921 19,620,937 49,837 19,670,774 Problem 9-6A (Algo) Part 4 4. What is the stated annual interest rate? Stated annual interest rate