Commercial paper. Criss-Cross Manufacturers will issue commercial paper for a short-term cash inflow. Criss-Cross must raise $5,150,000 , 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 9.2 % , 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 a. What are the proceeds from each paper?

b. What is the discount rate on the commercial paper?