This questions has 2 parts. Thanks in advance for any assistance.

Save & Exit Submit Discount-Mart issues $13 million in bonds on January 1, 2021. The bonds have a seven-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds Cash Paid Interest Expense Increase in Carrying Value Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 $390,000 390,000 390,000 390,000 $ 465,072 468,075 471, 198 474,446 $ 75,072 78.075 81, 198 84,446 Carrying Value $11,626,794 11,701,866 11,779,941 11,861,139 11,945,585 What is the carrying value of the bonds as of December 31, 2022? Discount-Mart issues $12 million in bonds on January 1, 2021. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds Cash Paid Interest Expense Increase in Carrying Value Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 $480,000 480,000 480,000 480,000 $525,227 527,488 529,863 532,356 $45,227 47, 488 49,863 52,356 Carrying Value $10,504,535 10,549,762 10,597,250 10,647,113 10,699,469 What is the market annual rate of interest on the bonds? (Hint: Be sure to provide the annual rate rather than the six month rote) (Do not round your intermediate calculations.)