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On April 15, 2019, Powell Inc. obtained a six-month working capital loan from its bank. The face amount of the note signed by the treasurer

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On April 15, 2019, Powell Inc. obtained a six-month working capital loan from its bank. The face amount of the note signed by the treasurer was $277,500. The interest rate charged by the bank was 4.50%. The bank made the loan on a discount basis. Exercise 7-5 (Algo) Part a Required: a-1. Caiculate the loan proceeds made avallable to Powell

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