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Mobilee Oil Company accepted a $10,000, 120-day note dated March 3 at 8 1/2% to settle a past-due account receivable. Mobilee Oil disounted the note

Mobilee Oil Company accepted a $10,000, 120-day note dated March 3 at 8 1/2% to settle a past-due account receivable. Mobilee Oil disounted the note to raise csh on May 10 at a discounted rate of 9%. What proceeds did Mobilee Oil receive? Use ordinary interest.

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