ch15 q11 need help with part 1 & 2

Commercial paper. Criss-Cross Manufacturers will issue commercial paper for a short-term cash inflow. Criss-Cross must raise $5,200,000, and the paper will have a maturity of 182 days. If this paper has a maturity value of $50,000 and is selling at an annual interest rate of 8.3%, what are the proceeds from each paper; that is, what is the discount rate on the commercial paper?

What is the discount rate on the commercial paper?

(Round to two decimal places.)