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Hermes Inc. received on January 1, 2017, a $22,800 4-year zero-interest bearing note for lending $16,400 to Phoenix Co. Hermes financial year ends December 31.

Hermes Inc. received on January 1, 2017, a $22,800 4-year zero-interest bearing note for lending $16,400 to Phoenix Co. Hermes financial year ends December 31. Round to the nearest whole number. The discount rate on the note is

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