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A firm plans to issue 30-day commercial paper for $9, 900,000. Par value is $10,000,000. What is the firm's cost of borrowing? 12.12 percent 11.11

A firm plans to issue 30-day commercial paper for $9, 900,000. Par value is $10,000,000. What is the firm's cost of borrowing? 12.12 percent 11.11 percent 13.00 percent 14.08 percent 15.25 percent

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