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A corporate treasurer is looking to invest about $ 4 million for 6 0 days. Commercial paper rates are a 3 . 6 5 percent

A corporate treasurer is looking to invest about $4 million for 60 days. Commercial paper rates are a 3.65 percent discount and CD rates are 3.66 percent. Comparing the bond equivalent yields over a 365-day year, which is the best alternative? What is the opportunity cost of leaving the funds idle? (Do not perform intermediate rounding.)

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