Please help me solve this.

GPP 12-017 R2 Topic: EAR (Discount loan + compensating balance) Wentworth Greenery harvests its crops four times annually and receives payment for its crop 90 days after it is picked and shipped. However, the firm must plant, irrigate, and harvest on a near continual schedule. The firm uses 90-day bank notes to finance its operations. The firm arranges an 7% discount interest loan with a 11% compensating balance four times annually. What is the effective) annual rate of these discount loans? (Hints: Use periodic rate. A year has 360 days.) The (effective) annual rate of these discount loans with compensating balance is percent per annum (Round to three decimal places). (Assumptions: A year has 360 days. Periodic rate is used.)