Please do not show work and answers handwritten, I can not understand it sometimes. Thank you!

At the beginning of 2016, VHF Industries acquired a equipment with a fair value of $6,942,160 by issuing a two-year, noninterest-bearing note in the face amount of $8 million. The note is payable in two annual installments of $4 million at the end of each year. (EV of $1, PV of $1, EVA of $1, PVA of $1. EVAD of $1 and PVAD of $1 (use appropriate factor(s) from the tables provided.) Required: 1. What is the effective rate of interest implicit in the agreement? Interest rate