A borrower enters a 60-day repurchase agreement in which it will sell to its counterparty for $92.00 an asset that has a current market value $94.00. The agreement also requires the borrower to repurchase the asset for $92.75 at the end of the 60 days. What is the haircut that has been applied, and who would prefer a larger haircut? 1.35\%; the lender would prefer a larger haircut 1.35\%; the borrower would prefer a larger haircut 2.13\%; the borrower would prefer a larger haircut 2.13\%; the lender would prefer a larger haircut