This is a hoisting question. When I run the following code, I get this error: Uncaught SyntaxError: Identifier 'DEFAULT_RATE' has already been declared. Why is it saying 'Default_Rate' has already been declared? Is it being declared twice in this code?

let DEFAULT_RATE = 0.1;
let rate = 0.05;

function getRate() {
  if (rate) {
    rate = DEFAULT_RATE;
  }
  return rate;
}

console.log('Your rate is: ', getRate());