Camemberts commercial paper is currently selling at a discount. It sells for 98.06 of par and matures in 88 days.

a. Calculate its yield as quoted in the market. (Use 365 days a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Yield %

b. Calculate its effective annual yield. (Use 365 days a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Effective annual yield %