A new financial services company just opened in your town. To attract customers, it is offering a "9-11" loan special. The company will lend $9 today in exchange for a payment of $11 one year from today. What is the APR on this loan? Select one: a. 20.00 percent b. 20.76 percent c. 21.84 percent d. 22.22 percent e. 23.08 percent