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Chang Co. issued a $40,800,120-day, discounted note to Guarantee Bank. The discount rate is 7%. Assuming a 360 -day year, the cash proceeds to Chang
Chang Co. issued a $40,800,120-day, discounted note to Guarantee Bank. The discount rate is 7%. Assuming a 360 -day year, the cash proceeds to Chang Co. are Round your answer to the nearest whole dollar. a. $39,848 b. $41,038 c. $40,800 d. $43,656
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