When Sheridan Corp. issued its 60-day commercial paper, the promised yield was 11.1 percent, whereas...
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When Sheridan Corp. issued its day commercial paper, the promised yield was percent, whereas the day Tbill yield was percent. There is a percent chance that Sheridan will default on this debt. If investors were willing to pay the full parvalue amount $ to purchase the paper, how much do they expect to recover in the event of a default? Round intermediate calculations to decimal places, eg and final answer to decimal places, eg Expected recovery $ 
When Sheridan Corp. issued its day commercial paper, the promised yield was percent, whereas the day Tbill yield was percent. There is a percent chance that Sheridan will default on this debt. If investors were willing to pay the full parvalue amount $ to purchase the paper, how much do they expect to recover in the event of a default? Round intermediate calculations to decimal places, eg and final answer to decimal places, eg
Expected recovery
$
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