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HELP! Chang Co. issued a $48,000,120-day, discounted note to Guarantee Bank. The discount rate is 7%. Assuming a 360 -day year, the cash proceeds to

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Chang Co. issued a $48,000,120-day, discounted note to Guarantee Bank. The discount rate is 7%. Assuming a 360 -day year, the cash proceeds to Chang Co. are a. $48,000 b. 146880 c. $48,280 d. 551,360

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