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Chang Co. issued a $45,300, 120-day, discounted note to Guarantee Bank. The discount rate is 11%. Assuming a 360-day year, the cash proceeds to Chang

Chang Co. issued a $45,300, 120-day, discounted note to Guarantee Bank. The discount rate is 11%. Assuming a 360-day year, the cash proceeds to Chang Co. are ______ .

Round your answer to the nearest whole dollar.

a.$50,283

b.$45,715

c.$43,639

d.$45,300

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