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A commercial paper has the following characteristics: redemption value of 5,000,000,interestearnedof5,000,000, interest earned of 5,000,000,interestearnedof140,500, and 160 days to maturity. Assuming a 365-day year, the discount rate is closest to:
A
6.2%.
B
6.4%.
C
6.6%.
