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discounted the Lennox, Inc., note at the bank. the banks discount rate is 12%. the note was discounted without recourse. 24,000 is the face value
discounted the Lennox, Inc., note at the bank. the banks discount rate is 12%. the note was discounted without recourse. 24,000 is the face value of the note at 10% on a 7 month note.
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