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Suppose that $10 million face value commercial paper with a 270-day maturity is selling for $9.65 million. What is the BEY on the paper? Multiple

Suppose that $10 million face value commercial paper with a 270-day maturity is selling for $9.65 million. What is the BEY on the paper?

Multiple Choice 4.71 percent 6.42 percent 6.37 percent 6.28 percent 4.90 percent

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