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#3 On July 14, Sheffield Company discounted at Sunshine Bank a $8,208 (maturity value), 120-day note dated April 10. Sunshines discount rate was 10%. (Use

#3 On July 14, Sheffield Company discounted at Sunshine Bank a $8,208 (maturity value), 120-day note dated April 10. Sunshines discount rate was 10%. (Use Days in a year table.) What proceeds did Sheffield Company receive? (Use 360 days a year. Do not round intermediate calculations.)

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