In exchange for a $$500$ million fixed commitment line of credit, your firm has agreed to do the following:$1.$ Pay $2\mathrm{.}0\%$ per quarter on any funds actually borrowed$\mathrm{.}2.$ Maintain a $4\%$ compensating balance on any funds actually borrowed$\mathrm{.}3.$ Pay an up$-$front commitment fee of $0\mathrm{.}200\%$ of the amount of the line.Based on this information, answer the following:e$.$ Ignoring the commitment fee, what is the effective annual Interest rate on this line of credit? $($Do not round Intermedlate calculations. Round the final enswer to $2$ declmal places.$)$Effective annual Interest rate$\%$b$.$ Suppose your firm immediately uses $$200$ million of the line and pays it off in one year. What Is the effective annual Interest rate this $$200$ million loan? $($Do not round Intermedlate calculations. Round the final answer to $2$ decimal places.$)$Effective annual Interest rate$\%$