in exchange for a $520 million fixed commitment line of credit your firm has agreed to do the following 1 Poy 20% per quarter on any funds actually borrowed 2. Maintain a 5% compensating balance on any funds actually borrowed 3. Pay an up-front commitment fee of 0.110% of the amount of the line Based on this information, answer the following a. Ignoring the commitment fee what is the effective annual interest rate on this line of credit? (Do not round intermediate calculations. Round the final answer to 2 decimal 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 on this $200 million loan? (Do not round Intermediate calculations. Round the final answer to 2 decimal places.) Effective annual interest rate 90