Lett$$s commercial paper is currently selling at a discount. It sells for $97\mathrm{.}59$ of par and matures in $100$ days. $($Use $365$ days a year. Do not round intermediate calculations. Round the final answers to $2$ decimal places.$)$

a$.$ Calculate its yield as quoted in the market.

Yield

$\%$

b$.$ Calculate its effective annual yield.

Effective annual yield

$\%$