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

On 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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