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Digital Access Incorporated needs $ 2 8 8 , 9 6 0 in funds for a project. Assume the loan term is one year. With

Digital Access Incorporated needs $

288, 960

in funds for a project.

Assume the loan term is one year.

With a compensating balance requirement of

16

percent, how much will the firm need to borrow?

Note: Do not round intermediate calculations.

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