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The Titan Siren Company is due to receive a payment of $475,000 in 27 days. A finance company offers to buy this receivable today

The Titan Siren Company is due to receive a payment of $475,000 in 27 days. A finance company offers to buy this receivable today for $471,500. (a) Find the simple discount rate offered. (b) Find the simple interest rate offered.

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