Required information [The following information applies to the questions displayed below.] On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $120,300 on December 31,2022 . The proceeds of the note were $115,200. Required: a. Calculate the discount rate used by the lender. Note: Enter your answer as a percentage rounded to 1 decimal place (i.e., 32.1). Answer is complete but not entirely correct. Required information [The following information applies to the questions displayed below.] On August 1, 2022, Colombo Companys treasurer signed a note promising to pay $120,300 on December 31,2022 . The proceeds of the note were $115,200. b. Calculate the effective interest rate (APR) on the loan. Note: Enter your answer as a percentage rounded to 1 decimal place (i.e., 32.1)