Question 7. If the finance charge for 2021 is wholly attributable to the loan from CRIL, what rate of interest is being charged on this debt? ( 2 marks) Figure 1: Statements of Financial Position as at: \begin{tabular}{|l|r|r|} \hline & & \\ \hline Turnover & & 359,228 \\ \hline Cost of Sales & & (114,110) \\ \hline Gross Profit & & 245,118 \\ \hline Administrative Expenses & 245,011 & \\ \hline Distribution Expenses & 2,900 & (247,911) \\ \hline Operating profit (loss) & & (2,793) \\ \hline Finance charge & & (11,000) \\ \hline Profit (loss) before tax & & (13,793) \\ \hline Corporation Tax & & \\ \hline Profit (loss) after tax & & (13,793) \\ \hline Dividends & & \\ \hline Retained earnings for the year & & (13,973) \\ \hline \end{tabular}