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On May 10, Sheffield Company discounted at Sunshine Bank a $5,850 (maturity value), 121-day note dated February 26. Sunshines discount rate was 10%. (Use Days

On May 10, Sheffield Company discounted at Sunshine Bank a $5,850 (maturity value), 121-day note dated February 26. Sunshines discount rate was 10%. (Use Days in a year table.)

What proceeds did Sheffield Company receive?

Note: Use 360 days a year. Do not round intermediate calculations.

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