In exchange for a $$540$ million fixed commitment line of credit, your firm has agreed to do the following: $1.$Pay $1$ percent per quarter on any funds actually borrowed$\mathrm{.}2.$Maintain a $4$ percent compensating balance on any funds actually borrowed$\mathrm{.}3.$Pay an up$-$front commitment fee of $\mathrm{.}13$ percent of the amount of the line. Based on this information, answer the following: a$.$Ignoring the commitment fee, what is the effective annual interest rate on this line of credit? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$b$.$Suppose your firm immediately uses $$200$ million of the line and pays it off in one year. What is the effective annual interest rate on this $$200$ million loan? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$