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Justine Company received the proceeds of P48,750 from discounting a P50,000, 90-day note at Metrobank. The discount rate used by the bank in computing the

Justine Company received the proceeds of P48,750 from discounting a P50,000, 90-day note at Metrobank. The discount rate used by the bank in computing the proceeds was*

A) 10.00%

B) 6.25%

C) 9.75%

D) 10.26%

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