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Suppose A purchases a 4 5 - day commercial paper with a par value of $ 3 , 0 0 0 , 0 0 0

Suppose A purchases a 45-day commercial paper with a par value of $3,000,000 for a price of $11,97,000. A holds the commercial paper until maturity, and you assume a 360 day year, then the annualized yield is:

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