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The following information applies to the questions displayed below] On August 1,2016, Colombo Co's treasurer...

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The following information applies to the questions displayed below] On August 1,2016, Colombo Co's treasurer signed a note promising to pay $120,900 on December 31,2016. The proceeds of the note were $116700 References Section Break Exercise 7-6 Notes payable-discount basis LO 2 value 5.00 points Exercise 7-6 Part a Required a. Calculate the discount rate used ty the lender Enter your answer as a percentage rounded to 1 decimal place (l.e, 32-1).) rate

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