Required information Exercise 7-8 (Static) Notes payable-discount basis LO 7-2 [The following information applies to the questions displayed below.] On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $2,400,000 on December 31, 2022. The proceeds of the note were $2,340,000. Exercise 7-8 (Static) Part b b. Calculate the effective interest rate (APR) on the loan. Note: Enter your answer as a percentage rounded to 1 decimal place (i.e., 32.1). Effective interest rate %