What is the effective Federal Funds Cost Rate? Enter your answer to $4$ decimal places, for example if answer is $10\mathrm{.}56\%$ enter as $\mathrm{.}1056$Use the following information to answer questions $4$ through $6.$

Banks and other lending affiliates within the holding company of Best$-$of$-$Times Financial are

reporting heavy loan demand this week from companies in the southeastern United States that are

planning a significant expansion of inventories and facilities before the beginning of the fall season.

The holding company plans to raise $$775$ million in short$-$term funds this week, of which about

$$700$ million will be used to meet these new loan requests.

Assume the following:

Fed funds are currently trading at $2\mathrm{.}25$ percent,

negotiable CDs are trading in New York at $2\mathrm{.}40$ percent,

One$-$month maturities of directly placed commercial paper carry market rates of $2\mathrm{.}35$ percent

The primary credit discount rate of the Federal Reserve Bank of Richmond is currently set at

$2\mathrm{.}75$ percent

Non$-$interest costs are estimated at $0\mathrm{.}25$ percent for Fed funds, discount window borrowings,

and CDs$,$ and $0\mathrm{.}50$ percent for commercial paper.

Based on these data points, calculate the effective cost rate of each of the following three sources

of funds: Federal Funds, CD$,$ and Commercial Paper.