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Commercial paper. Criss - Cross Manufacturers will issue commercial paper for a short - term cash inflow. Criss - Cross must raise $ 5 ,

Commercial paper. Criss-Cross Manufacturers will issue commercial paper for a short-term cash inflow. Criss-Cross must raise $5,450,000, 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 9.4%, what are the proceeds from eachpaper?

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