The Brandt Company has been approached by two different commercial paper dealers offering to sell an issue of commercial paper for the company. Dealer A

offered to market an $$8$ million issue maturing in $110$ days at an interest cost of $9\mathrm{.}0$ percent per annum $($deducted in advance$).$ The fee to Dealer A would be

$$14,000.$ Dealer $B$ has offered to sell a $$9$ million issue maturing in $160$ days at an interest rate of $9\mathrm{.}25$ percent per annum $($deducted in advance$).$ The fee to

Dealer B would be $$19,000.$ Assuming that Brandt wishes to minimize the annual financing cost of issuing commercial paper, which dealer should it choose?

Assume that there are $365$ days per year. Round your answers to two decimal places.

AFC $($Dealer A$)$:

$\%$

AFC $($Dealer B$)$: