Atlas Tire Irons Inc. is considering borrowing $5000 for a90-day period. The fir

Atlas Tire Irons Inc. is considering borrowing $5000 for a90-day period. The firm will repay the $5000 principle amount plus$150 in interest. What is the effective annual rate of interest?Use a 360-day year.a. 7%b. 12%c. 15%d. 25%