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The Signet Corporation has issued four-month commercial paper with a 6.4 million face value. The firm netted $6,212,503 on the sale. What effective annual rate

The Signet Corporation has issued four-month commercial paper with a 6.4 million face value. The firm netted $6,212,503 on the sale. What effective annual rate (EAR) is Signet paying for thesefunds?

The effective annual rate is

enter your response here%.

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