The York Company has arranged a line of credit that allows it to borrow up to $50 milion at any time. The interest rate is .626 percent per month. Additionally, the company must deposit 4 percent of the amount borrowed in a non-interest bearing account. The bank uses compound interest on its line-of-credit loans. What is the effective annual rate on this line of credit? O O O O O 9.00% 7.78% 7.15% 6.52% 8.10%