In exchange for a $300 million fixed commitment line of credit, your firm has agreed to do the following: 1. Pay 1.93 percent per quarter on any funds actually borrowed. 2. Maintain a 4.5 percent compensating balance on any funds actually borrowed. 3. Pay an up-front commitment fee of .45 percent of the amount of the line. a. Ignoring the commitment fee, what is the effective annual interest rote on this line of credit? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g. 32.16. b. Suppose your firm immediately uses $115 million of the line and pays it off in one year. What is the effective annual interest rate on this $115 million loan? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.9., 32.16