Question: Help Save & Exit Submit X2 issued callable bonds on January 1, 2021. The bonds pay interest annually on December 31 each year. X2's

Help Save & Exit Submit X2 issued callable bonds on January 1,

Help Save & Exit Submit X2 issued callable bonds on January 1, 2021. The bonds pay interest annually on December 31 each year. X2's accountant has projected the following amortization schedule from issuance until maturity: Date 01/01/2021 Interest Cash Paid Expense Decrease in Carrying Value Carrying Value $104,212 12/31/2021 $7,000 $6,253 $747 103,465 12/31/2022 7,000 6,208 792 102,673 12/31/2023 7,000 6,160 840 101,833 12/31/2024 7,000 6,110 890 100,943 12/31/2025 7,000 6,057 9431 100,000 What is the annual stated interest rate on the bonds? Multiple Choice 3% 3.5%

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