A financial modeller draws a cash flow diagram to model the following scenario.

A 90-day commercial bill will mature for $400000. The price paid for the bill at issue was $393977.01. The bill was sold 18 days after issue for $393435.18. Calculate the annual rate of simple interest (as a percentage, to two decimal places) earned by the buyer who paid $393977.01 and sold for $393435.18. What was the annual rate of simple discount (as a percentage, to two decimal places) that the buyer sold at (earning a price of $393435.18)?

Here is the cash flow diagram the financial modeller drew.

Which response best reflects the values of Z, Y, X, W, V, U, T and S?

a.

Z is 90.00, Y is $400000.00, X is $393977.01, W is 18, V is $393435.18, U is not required, T is 8.22% p.a. (simple discount) and S is -2.69% p.a. (simple interest).

b.

Z is 90.00, Y is $400000.00, X is $393977.01, W is 18, V is $393435.18, U is not required, T is 8.32% p.a. (simple discount) and S is -2.79% p.a. (simple interest).

c.

Z is 90.00, Y is $400000.00, X is $393977.01, W is 72.00, V is $393435.18, U is not required, T is 33.28% p.a. (simple discount) and S is -0.70% p.a. (simple interest).

d.

Z is 90.00, Y is $400000.00, X is $393977.01, W is 18, V is $393435.18, U is not required, T is 7.78% p.a. (simple discount) and S is -3.86% p.a. (simple interest).