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Pepsi Corporation is interested in acquiring a new machine that it can buy for $216300 in cash. Alternatively, Durban can make five equal payments of

Pepsi Corporation is interested in acquiring a new machine that it can buy for $216300 in cash. Alternatively, Durban can make five equal payments of $60000 each, the first one due after one year, to purchase the same machine.   Find the implied interest rate in the second option.

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