Question 3 (10 marks) You borrowed $10,000,000 in the commercial paper market. The rate on 60-day commercial paper is 6.58 percent. (a) If you issued 60-day commercial paper through a dealer, how much must you repay at the end of the 60-day period? (5 marks) (b) Assume that, 60 days from now, CP rates have not changed. Instead of repaying your borrowings, you want to roll them over for another 60 days. How much must you repay at the end of the second 60 days