Given the following information, calculate the effective borrowing cost. Loan amount: $300,000, Term: 30 years, Interest rate: 12%, Discount points: 2, Other up-front costs to close the mortgage not paid to the lender: $4,000. Assume monthly payments and that the borrower does not prepay the loan prior to maturity. (I keep getting the answer of 12% but my online homework says that is wrong and that is the lenders yield, I am looking for the effective borrowing cost) Please show work, and thank you for your help!