On June 30, 2015, Upton, Inc. sold $3,000,000 (face value) of bonds. The bonds are dated June 30, 2015, pay interest annually on June 30, and will mature on June 30, 2018. The following schedule was prepared by the accountant for 2015.

Annual Interest Period		Interest to be Paid		Interest Expense		Amortization		Unamortized Amount		Bond Carrying Value
								$75,000		$2,925,000
1		$240,000		$263,250		$23,250		51,750		2,948,250

On the basis of the above information, answer the following questions.

What is the stated interest rate for this bond issue? Stated interest rate What is the market interest rate for this bond issue? Market interest rate What was the selling price of the bonds as a percentage of the face value? (Round answer to 1 decimal place, e.g. 52.7.) Selling price