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Suppose that $10 million face value commercial paper with a 270-day maturity is selling for $9.55 million. What is the BEY (Bond Equivalent Yield) on

Suppose that $10 million face value commercial paper with a 270-day maturity is selling for $9.55 million. What is the BEY (Bond Equivalent Yield) on the paper? State your answer as a percentage, rounded to two decimal places (e.g. four and quarter percent would be expressed as 4.25)

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