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Business, 27.11.2019 05:31 romanbattistelli23

Discount-mart issues $10 million in bonds on january 1, 2018. 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: date cash paid interest expense increase in carrying value carrying value 1/1/2018 $8,640,967 6/30/2018 $300,000 $345,639 $45,639 8,686,606 12/31/2018 300,000 347,464 47,464 8,734,070 6/30/2019 300,000 349,363 49,363 8,783,433 12/31/2019 300,000 351,337 51,337 8,834,770 what is the stated annual rate of interest on the bonds? (hint: be sure to provide the annual rate rather than the six month rate.) select one: a. 6%. b. 8%. c. 3%. d. 4%.

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