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! Required information [The following information applies to the questions displayed below.] Temptation Vacations issues $40 million in bonds on January 1, 2024, that

! Required information [The following information applies to the questions displayed below.] Temptation Vacations issues $40 million in bonds on January 1, 2024, that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (1) (2) Cash Paid for (3) Interest (4) Decrease in Carrying (5) Carrying Date Interest Expense Value 1/1/2024 Value $45,020,555 6/30/2024 $1,200,000 12/31/2024 1,200,000 $1,125,514 1,123,652 $74,486 44,946,069 76,348 44,869,721 4. What is the stated annual interest rate? Stated annual interest rate %

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