Shaun White Adventure Company (SWAC) issued callable bonds on January 1, 2024. SWAC's accountant has projected the following amortization schedule from issuance until maturity: Interest Increase in Carrying Date 01/01/2024 Cash Paid Expense Carrying Value Value $342,840 06/30/2024 $21,600 $23,999 $2,399 345,239 12/31/2024 21,600 24,167 2,567 347,806 06/30/2025 21,600 24,346 2,746 350,552 12/31/2025 21,600 24,539 2,939 353,491 06/30/2026 21,600 24,744 3,144 356,635 12/31/2026 21,600 24,965 3,365 360,000 What is the annual stated interest rate on the bonds? (Hint: Be sure to provide the annual rate rather than the six-month rate.) (Do not round your intermediate calculations.) Multiple Choice 14% O 6% 13%