2. Money market instruments: Commercial paper Which of the following are typical commercial paper maturities? Check all that apply. 35 days 270 days 290 days O 325 days Which of the following are characteristics of commercial paper? Check all that apply. Their denominations are typically in multiples of $100,000. Activity in their secondary market is low. They are typically used to finance a firm's investment in inventory and accounts receivable. Their maturities are normally between 20 and 45 days but can be as short as 1 day or as long as 270 days. Suppose Cho purchases a 45-day commercial paper with a par value of $1,000,000 for a price of $998,000. If Cho holds the commercial paper until maturity, and you assume a 360 day year, then the annualized yield is: 1.47% O 1.60% 1.66% O 1.74%