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Tennant's commercial paper is currently selling at a discount. It sells for 97.49 of par and matures in 120 days. (Use 365 days a year.

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Tennant's commercial paper is currently selling at a discount. It sells for 97.49 of par and matures in 120 days. (Use 365 days a year. Do not round intermediate calculations. Round the final answers to 2 decimal places.) Please submit all calculations on Moodle a. Calculate its yield as quoted in the market. [2 Marks] Yield % b. Calculate its effective annual yield. [2 Marks] Effective annual yield %

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