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Baker Inc acquired equipment from the manufacturer on 10/1/2021 and gave a noninterest-bearing note in exchange. Baker is obligated to pay $923,000 on 4/1/2022 to

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Baker Inc acquired equipment from the manufacturer on 10/1/2021 and gave a noninterest-bearing note in exchange. Baker is obligated to pay $923,000 on 4/1/2022 to satisfy the obligation in full. If Baker accrued interest of $9,500 on the note in its 2021 year-end financial statements, what is its imputed annual interest rate? Multiple Choice None of these answer choices are correct. 0 4,2% 6.3% O 21%

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