A business owner borrows $200,000 from a payday (short-term unregulated lender) as an advance against future sales. The lender will debit the Company's operating account each week for 20 weeks for $11,083. The lender will not disclose the rate of interest since the $200,000 is considered an advance against future sales. The business owner believes the annual rate of interest of approximately 29% calculated as follows: =(21,166/200,000) /.365 (Note: $21,166 is considered the interest paid with the loan being outstanding for approximately 36.5% of the year.) Is the business owner correct?