Compute the each part of given problem:
Problem: A large storage tank, open at the top and filled with water, develops a small hole in its side at a point 16.4 m below the water level. The rate of flow from the leak is found to be 2.40 x 10-3 m3/min.
Part I: Determine the speed at which the water leaves the hole.
m/s
Part II: Determine the diameter of the hole.
m
Please explain each step and equations used to get solution.