LEW Company purchased a machine at a price of $100,000 by signing a note payable, which requires a single payment of $123,210 in two years. a. Assuming annual compounding of interest, what rate of interest is being paid on the loan? Use either a financial calculator or the Excel function Rate to calculate the rate. b. What would be the purchase price of the machine had LEW negotiated a single payment of $120,000 in two years, using the same effective rate? To calculate, use (1) a financial calculator