Sunland Electronics has a formal line of credit of $1 million for up to three years with HND Bank. The interest rate on the loan is 4.3 percent, and under the agreement, Sunland has to pay an annual fee of 70 basis points on the unused amount. Suppose the firm borrows $726,000 the first day of the agreement. What is the fee the company must pay on the unused balance? (Round answer to the nearest whole dollar, e.g. 5,275.) Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you've been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) Annual fee $ What is the effective interest rate? (Round answer to 2 decimal places, e.g. 52.75%.) Effective interest rate