Cost of commercial paper Better Effort Corporation sold an issue of $99-$day commercial paper with a face value of $$1\mathrm{.}4$ million. The firm has received initial proceeds of $$1,380,505.($Note: Assume a $365-$day year.$)$

a$.$ What effective annual rate will the firm pay for financing with commercial paper, assuming that it is rolled over every $99$ days throughout the year?

b$.$ If a brokerage fee of $$13,326$ was paid from the initial proceeds to an investment banker for selling the issue, what effective annual rate will the firm pay, assuming that the paper is rolled over every $99$ days throughout the year?