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$900,000 and a stated interest rate of 15 percent in exchange for a machine with a fair value of $1,000,000. Compute the effective interest rate

$900,000 and a stated interest rate of 15 percent in exchange for a machine with a fair value of $1,000,000. Compute the effective interest rate for Cornell Corp. a. 16.67 percent b. 15.0 percent C. ...

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