Moving to another question will save this response. Question of 15 Question 1 points On July 2, 2020, Martineau Lid issued $6,000,000 (par value) 0%, ten-year convertible bonds at 98 The bonds were dated April 1, 2020 with interest payable quarterly on July 1 October 1, January 1 and April 1 of the bonds had NOT been convertible, they would have sold for 98.1 The bond discount is amortwed on a straight line bases. On April 1, 2021 $ 1.200,000 of these bonds were converted into 500 no par common shares Accrued interest was paid in cash at the time of conversion What was the effective interest rate on the bonds when they were issued? O 1.9% 2. above 9 3 below 4. cannot determinarom the information given