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Galt Industries has issued 6-month commercial paper with a $8 million face value. The firm netted $7,831,000 on the sale. The effective annual rate for

Galt Industries has issued 6-month commercial paper with a $8 million face value. The firm netted $7,831,000 on the sale. The effective annual rate for this financing is closest to (\%) (2 decimal places)

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