The Large-Scale Industrial Corporation, a large well established company, is about to issue $6,000,000 worth of commercial paper. The paper has a maturity of 9 months (270 days), and commands a price worth 97.5% of par value in the market. The paper will be sold with a face or par value of $100,000.

How many commercial papers will be sold?

What is the cost of this borrowing to the firm?

please answer the problem with the steps and formula....thank you