In exchange for a 400 million fixed commitment line of credit, your firm has agreed to do the following. 1. Pay 1.82 per cent per quarter on any funds actually borrowed. 2.Maintain a 1 percent compensating balance on any funds actually borrowed. 3. Pay an up-front commitment fee of 0.27percent. of the amount of the line. Ignoring the commitment fee, what is the effective annual interest rate on this line of credit? Suppose you immediately use 212 million dollars of the line and pay it off in one year, What is the effective annual interest rate on this 212 million?