South Fork Farms, Inc., reported $5,000,000 of 6% bonds payable. Interest is payable semi-annually. The bonds were issued at par. As of December 31, 2024, the current balance of the unamortized discount on the bonds was $600,000 with 10 years to maturity. The company decided to retire all bonds on December 31, 2024. The price paid to retire the bonds was $4,000,000. Determine the annual market rate of interest on the date the bonds were retired (Round to two decimal places). A 18.27% B 9.14% C 4.54% D 9.09%