Kingbird Company purchased a machine at a price of $103,300 by signing a note payable, which requires a single payment of $124,993 in 2 years. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1.

Assuming annual compounding of interest, what rate of interest is being paid on the loan? (Round answer to 0 decimal places, e.g. 52%.)

What would be the purchase price of the machine had Kingbird negotiated a single payment of $135,000 in 2 years, using the same effective rate? (Round answer to 2 decimal places, e.g. 5,275.25.)