The new taxation rates (1)/ announced by the government (2)/ are bound to effect the export sector. (3)/ No error (4)

Answer

3

Explanation

affect will replace effect because
- effect (Verb) : to make something happen, to bring about
affect (Verb) : to produce a change in somebody/ something
Look at the examples given below:
These changes will give us the power to effect change. Your opinion will not affect my decision. Inflation affects the buying power of the dollar. The report shows the effect (Noun) of noise on people in the factories.
Hence, are bound to affect the export sector is the right usage