Problem $31-32$ Money$-$market yields

A three$-$month bill that was issued on an annually compounded yield of $4\%.$ Suppose that one month has passed and the investment still offers the same annually compounded return, answer the following:

What is the percentage discount?

Calculate the Monthly return.

Calculate the present annual yield.

Note: Do not round intermediate calculations. Enter your answers as a percent rounded to $2$ decimal places.