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The Storehouse Limited (TSL) has a bank loan of $9,000,000. The loan contract states that TSL must pay an interest rate of 6-month BKBM plus

The Storehouse Limited (TSL) has a bank loan of $9,000,000. The loan contract states that TSL must pay an interest rate of 6-month BKBM plus a risk margin of 1%p.a. The 6-month BKBM was 7%p.a. when TSL borrowed the full $9,000,000. TSL is profitable and pays company tax at a rate of 28%. What is TSLs effective rate of interest on its loan? Group of answer choices

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