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Required information [The following information applies to the questions displayed below/ On January 1, 2024, Highlands Resort issues $32 million of bonds that pay interest

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Required information [The following information applies to the questions displayed below/ On January 1, 2024, Highlands Resort issues $32 million of bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: 5. What is the market annual interest rate? (Round your answer to one decimal place.)

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