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On September 1, 2021, Hiker Shoes issued a $103,000, 6-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount rate

On September 1, 2021, Hiker Shoes issued a $103,000, 6-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount rate is 10%. Hiker's effective interest ra...

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