signment 3 Birthdaybook requires $323,640 to complete a project a. With a compensating balance requirement of 7%, how much will the firm need to borrow? Amount to be borrowed b. Given your answer to part a and a stated interest rate of 17 percent on the total amount borrowed, what is the annual rate on the $323.640 actually being used? (Use 365 days in a year. Do not round intermediate calculations. Round the final enswer to 2 decimal places.)