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Commercial paper. Criss-Cross Manufacturers will issue commercial paper for a short-term cash inflow. The paper is for ninety-one days and has a face value of

Commercial paper. Criss-Cross Manufacturers will issue commercial paper for a short-term cash inflow. The paper is for ninety-one days and has a face value of $50,000, and the company anticipates it will sell at 96% of par value. Criss-Cross wants to raise $3,000,000. What is the cost of this borrowing (annual terms)? How many papers will it sell

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