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on April 15, 2016 Vermont Inc. obtained a six month working capital loan from its bank. The face amount of the note signed by the

on April 15, 2016 Vermont Inc. obtained a six month working capital loan from its bank. The face amount of the note signed by the treasurer it was $196,000. The interest rate charged by the bank was 10% the bank made the loan on a discount basis.

calculate the loan proceeds made available to Vermont Inc.

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