Red Lizard Construction just borrowed $51,200.00. The terms of the loan require the company to make equal monthly payments forever. The first monthly payment is due in 1 month. If the regular monthly loan payment is $560.00, then what is the EAR of the loan?

		A rate equal to or greater than 10.31% but less than 11.03%
		A rate equal to or greater than 11.03% but less than 12.26%
		A rate equal to or greater than 13.53% but less than 14.35%
		A rate equal to or greater than 12.26% but less than 13.53%
		A rate less than 10.31% or a rate greater than 14.35%