The Stoney River Pennant Company uses commercial paper to satisfy part of its short-term financing requirements. Next week, it intends to sell $50 million in 180-day maturity paper on which it expects to have to pay discounted interest at an annual rate of 19 percent per annum. In addition, Stoney River expects to incur a cost of approximately $100,000 in dealer placement fees and other expenses of issuing the paper. What is the effective annual cost of credit to Stoney River (round to the nearest .1 percent)? 14.0% 19.0% 21.5% 18.65%