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Business, 04.12.2019 00:31 yaneli0717

Baker inc. acquired equipment from the manufacturer on 10/1/2018 and gave a noninterest-bearing note in exchange. baker is obligated to pay $918,000 on 4/1/2019 to satisfy the obligation in full. if baker accrued interest of $9,000 on the note in its 2018 year-end financial statements, what is its imputed annual interest rate?

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