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Chang Co. issued a $49,500, 120-day, discounted note to Guarantee Bank. The discount rate is 10%. Assuming a 360-day year, the cash proceeds to Chang

Chang Co. issued a $49,500, 120-day, discounted note to Guarantee Bank. The discount rate is 10%. Assuming a 360-day year, the cash proceeds to Chang Co. are a.$47,850 b.$49,913 c.$54,450 d.$49,500

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