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34.. On April 30, 2021, Snider Co. borrowed $10 million cash from Regal I Bank and issued a 7 month, noninterest-bearing noto, priced to yield

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34.. On April 30, 2021, Snider Co. borrowed $10 million cash from Regal I Bank and issued a 7 month, noninterest-bearing noto, priced to yield an effective interest rate of 12%. The stated discount rate on this loan is: A. More than the effective interest rate. B. Less than the effective interest rate. C.Equal to the effective interest rate. D. Unrelated to the effective interest rate

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