As of the date of Colony Farms most recent financial statements, 3_1 years remained in 2 the

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As of the date of Colony Farm’s most recent financial statements, 3_1 years remained in 2 the term of a lease reported as a long-term liability of $27,400. If the beginning-of-month lease payments are $750, what monthly compounded nominal discount rate was used in valuing the lease?
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