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In 2018, the listed price of the house was $8.5 million. In October 2019 the price was reduced to $5.6 million. Calculate the compound rate

In 2018, the listed price of the house was $8.5 million. In October 2019 the price was reduced to $5.6 million. Calculate the compound rate of this reduction in price. (The rate should be calculated to two decimals. Round the number of years to the whole number). Please explain your answer.

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