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Suppose a security pays $100 in one month, and is currently trading at $98.03. What is the effective annual rate on this security? Round your

Suppose a security pays $100 in one month, and is currently trading at $98.03. What is the effective annual rate on this security?

Round your answer to 4 decimal places. For example if your answer is 3.205%, then please write down 0.0321.

Please answer with steps, thank you.

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