grabiel company plans to sell RM400.000 in 90 days maturity paper on which the expected discounted interest to be paid 10 percent per annum. The dealer placement fee is RM3,000 per paper, and the par value of these commercial papers is RM40,000 each Calculate the cost of issuing commercial paper

Answer 44.44 percent

444 percent

10,19 percent

11.11 percent