Ullrich Printing Inc. paid out $$29,000$ of common dividends during the year. It ended the year with $$230,000$ of retained earnings versus the prior year's retained earnings of $$132,250.$ How much net income did the firm earn during the year?Suppose People's bank offers to lend you $$10,000$ for $1$ year on a loan contract that calls for you to make interest payments of $$380\mathrm{.}00$ at the end of each quarter and then pay off the principal amount at the end of the year. What is the effective annual rate on the loan?