Vail Resorts , a US based company , plans to sell of euro commercial paper with a 120 - day maturity and discounted to yield 6.70 % per annum to fund the acquisition of a Swiss ski resort . Assume that there are 360 days in a year . What will be the immediate proceeds to Vail Resorts ?

What currency will the proceeds be denominated in ? Be sure to answer both questions . Show all work and round to two decimal places .