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49. IRU company has a $300,000 line of credit and has borrowed an average of $100,000 at 7% last year. The company also pays a

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49. IRU company has a $300,000 line of credit and has borrowed an average of $100,000 at 7% last year. The company also pays a commitment charge of 0.25% to the bank for any unused portion. What is the effective rate the company has paid for the borrowed amount? a. 9.49%. b. 8.44%. c. 7.50%. d. 13.13%

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