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Electric Motors Inc. is inquiring with its bank about some short-term financing options for 60 days. The bank offers to discount a bill with a

Electric Motors Inc. is inquiring with its bank about some short-term financing options for 60 days. The bank offers to discount a bill with a face value of $250,000 at a discount of 6.50%. How much will the company receive upfront if it accepts the bank's offer? $ What is the initial yield on the bill? %

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