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Question 2 (1 point) Torquay, Inc. plans to raise $45 million using six-month commercial paper. The net proceeds to the company will be $44,275,500. The

Question 2 (1 point) Torquay, Inc. plans to raise $45 million using six-month commercial paper. The net proceeds to the company will be $44,275,500. The effective annual rate of this financing for Torquay is closest to: 3.30%

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