A merchant holds a trad bill with a nominal value of $ 7.600 maturing on June 30. He goes to his bank on March 15 to negotiate it. a. What is the present value of this trade bill at the 3% discount rate? b. The merchant asks his bank to exchange this trade bill for a new one maturing on May 31. What is the nominal value of this new security? A merchant holds a trad bill with a nominal value of $ 7.600 maturing on June 30. He goes to his bank on March 15 to negotiate it. a. What is the present value of this trade bill at the 3% discount rate? b. The merchant asks his bank to exchange this trade bill for a new one maturing on May 31. What is the nominal value of this new security