Gale Corporation recently issued 270-day commercial paper with a face value of $100,000 and a simple interest rate of 11 percent. Assuming there are 360 days in a year, what is the commercial paper's annual percentage rate (APR)? The firm incurs no transaction costs to issue the commercial paper.

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Q: O 14.26% 10 20% Nocci O 1120%

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Q: warranty

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Q: Cost of commercial paper Better Effort Corporation sold an issue of 106-day commercial paper with a…

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Q: what is the annual interest rate cost (Use 360-day year)?

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