Required information P10-10 Preparing a Bond Amortization Schedule for a Bond Issued at a Premium LO10-5 The following information applies to the questions displayed below.) On January 1 of this year, Olive Corporation issued bonds. Interest is payable once a year on December 31. The bonds mature at the end of four years. Olive uses the effective interest amortization method. The partially completed amortization schedule below pertains to the bonds: Canh Interest Amortization Date January 1, Year 1 End of Year 1 End of Year 2 End of Year 3 End of Year 4 $ 1,980 $ 1,792 Balance $ 44,799 44,611 44, 415 $ 188 203 1,768 44,000 P10-10 Part 6 6. What is the coupon rate? (Enter your answer as a percentage rounded to 1 decimal place (.e. 0.123 should be entered as 12.3).) Coupon Rate