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ABC Corporation needs $250,000 to complete a project. The bank requires a compensating balance requirement of 12%. The corporation would like to have the entire

ABC Corporation needs $250,000 to complete a project. The bank requires a compensating balance requirement of 12%. The corporation would like to have the entire $250,000 after the compensating balance has been accounted for. How much should the company request to have $250,000 after the 12% compensating balance?

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