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An investor is looking at commercial paper issue that has a par value of $25 M and is selling for $24,899,000. The issue has 90

An investor is looking at commercial paper issue that has a par value of $25 M and is selling for $24,899,000. The issue has 90 days to maturity. Calculate the BEY yield on this instrument.

3.65%

4.65%

1.65%

2.65%

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