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n January 2 6 , Vibrant Co . borrowed cash from Conrad Bank by issuing a 3 0 - day note with a face amount

n January

26,

Vibrant Co

.

borrowed cash from Conrad Bank by issuing a

30 -

day note with a face amount of $

74, 400 .

Assume a

360 -

day year. Determine the proceeds of the note, assuming the note is discounted at

5 % .

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