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Marin Inc. has completed the purchase of new Dell computers. The fair value of the equipment is $1,038,429. The purchase agreement specifies an immediate down

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Marin Inc. has completed the purchase of new Dell computers. The fair value of the equipment is $1,038,429. The purchase agreement specifies an immediate down payment of S252.000 and semiannual payments of $96,959 beginning at the end of 6 months for 5 years. What is the interest rate, to the nearest percent, used in discounting this purchase transaction? Interest rate % semiannually

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