ABC Inc. acquired equipment from the manufacturer on 10/1/2016 and gave a noninterest-bearing note in exchange. ABC is obligated to pay $918,000 on 4/1/2017 to satisfy the obligation in full. If ABC accrued interest of $9,000 on the note in its 2016 year-end financial statements, what is its imputed annual interest rate

The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?