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Pharoah Sweets Company just issued $32 million of 180-day commercial paper for net proceeds of $31.10 million. What is the commercial paper's quoted yield? (Round

Pharoah Sweets Company just issued $32 million of 180-day commercial paper for net proceeds of $31.10 million. What is the commercial paper's quoted yield? (Round answer to 2 decimal places, e.g. 15.75.)

Quoted yield

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