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Midland Steel Company is considering in $10 milion of commercial paper. A commerce des indicated that can could sell a 90-day issue at an annual

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Midland Steel Company is considering in $10 milion of commercial paper. A commerce des indicated that can could sell a 90-day issue at an annual interest rate of 9.5%. The placement fee would be $25.000 What is the winding? 10.19 10.79% 11.979 10.97%

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