1.)What is the discount rate on the commercial paper?

2.) What are the proceeds from each paper?

Score: 0.5 of 1 pt 9 of 10 (10 complete) HW Score: 92.5%, 9.25 of 10 pts P15-18 (similar to) Question Help Commercial paper. Criss-Cross Manufacturers will issue commercial paper for a short-term cash inflow. Criss Cross must raise $5,300,000, and the paper will have a maturity of 182 days. If this paper has a maturity value of $50,000 and is selling at an annual interest rate of 8.4%, what are the proceeds from each paper, that is, what is the discount rate on the commercial paper? What is the discount rate on the commercial paper? % (Round to two decimal places.) Enter your answer in the answer box and then click Check