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2. On September 1,2016, Hiker Shoes issued a $119,000, 8-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount rate

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2. On September 1,2016, Hiker Shoes issued a $119,000, 8-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount rate ls 7%. Hiker's effective Interest rate on this oan (rounded) is (Do not round intermediate calculations. Round your final answer to two decimal places, eg.,1234 as 12.34% 734%. o 700%. 726%. 0127% MacBook A esc Fl F3 4

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