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Commerelal paper. Crisb-Cross Manufacturens will issue commeroial paper for a shont term cash infow. Criss-Cross must rase 55,500.000, and the paper will have a maturity

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Commerelal paper. Crisb-Cross Manufacturens will issue commeroial paper for a shont term cash infow. Criss-Cross must rase 55,500.000, and the paper will have a maturity of t82 dayz. this paper has a maturity value of 550,000 and is selling at an annual interest rate of 9.7%. What are the proceeds from each paper, that is, what is the fiscount rate on the commercial paper

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