Lang Warehouses borrowed $178,960 from a bank and signed a note requiring 8 annual payments of $28,819 beginning one year from the date of the agreement. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Determine the interest rate implicit in this agreement. (Do not round intermediate calculations. Round interest rate to 1 decimal place.) Solve for i Present value: Annuity payment