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A firm offered somesecurities for sale to the public on March 28, 2008. Under theterms of the deal, the firm promised to repay the owner of one ofthese securities $100,000 on March 28, 2038, but investors wouldreceive nothing until then. Investors paid the firm $24,100 foreach of these securities; so they gave up $24,100 on March 28,2008, for the promise of a $100,000 payment 30 years later.(Do not include the percent signs (%). Round your answersto 2 decimal places. (e.g., 32.16)) Required:a.Based on the $24,100price, the firm was paying a rate of percent to borrow money. b.Suppose that, on March28, 2020, this security's price is $44,000. If an investor hadpurchased it for $24,100 at the offering and sold it on this day,she would have earned an annual rate of percent. c.If an investor hadpurchased the security at market on March 28, 2020, and held ituntil it matured, she would have earned an annual rate ofpercent.