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Mickeys commercial paper is currently selling at a discount. It sells for 97.29 of par and matures in 120 days. a. Calculate its yield as

Mickeys commercial paper is currently selling at a discount. It sells for 97.29 of par and matures in 120 days. a. Calculate its yield as quoted in the market. (Use 365 days a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Yield % b. Calculate its effective annual yield. (Use 365 days a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Effective annual yield

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