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Chang Co. issued a $52,885, 120-day, discounted note to Guarantee Bank. The discount rate is 8%. Assuming a 360-day year, the cash proceeds to Chang

Chang Co. issued a $52,885, 120-day, discounted note to Guarantee Bank. The discount rate is 8%. Assuming a 360-day year, the cash proceeds to Chang Co. are Select the correct answer. O$51,475 O$57,116 O $53,238 O $52,885 o

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