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benkart tool and die company plans to sell 30,000000 of 90 day commercial paper paper, on which it expects to pay discounted interest rate of

benkart tool and die company plans to sell 30,000000 of 90 day commercial paper paper, on which it expects to pay discounted interest rate of 8% per year. dealer fees expected to be 40,000. the effective cost of credit to benkart tool and die company is: A. 8.13% b. 13.64% c. 17.22% 32.53%

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