You want to be a Lyft driver. You need to have access to a car. You go to the dealer and find that you can lease a 2023 Hornet for $751.65 per month for 5 years with no money down. The car is valued at $50,000. At the end of the lease, you can (and do) buy the car for $15,000. What is the effective APR on this scenario?

a.4%

b.8%

c.5%

d.9%

e.6%

f.7%