Help Save & Exit Discount-Mart Issues $18 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 22 Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 $720,000 720,000 720,000 720.000 $787,840 791,232 794,794 798,533 $67,840 71,232 74,794 78,533 Carrying Value $ 15,756,802 15,624,642 15,895,874 15,970,668 16,049,201 What is the stated annual rate of interest on the bonds? (Hint: Be sure to provide the annual vate rather than the six-month rate) (Do not round your intermediate calculations.) Me Choke 10