During periods of hyperinflation, prices increase rapidly over short periods of time. In 1993, the Consumer Price Index (CPI) in Brazil was 113.6 billion. In 1994, the CPI was 2472.4 billion.

(a) What was the inflation rate per year between 1993 and 1994?

(b) Assuming the inflation rate calculated in part (a) occurred uniformly throughout the year and represented a nominal rate, what were the monthly and daily inflation rates over that time period?