Suppose a bank enters a repurchase agreement in which it agrees to buy Treasury securities from a correspondent bank at a price of $21,950,000, with the promise to buy them back at a price of $22,000,000.

a. Calculate the yield on the repo if it has a 7-day maturity. (Use 360 days in a year. Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) Yield on the repo b. Calculate the yield on the repo if it has a 19-day maturity. (Use 360 days in a year. Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16) Yield on the repo