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On November 2, Sheffield Company discounted at Sunshine Bank a $5,760 (maturity value), 129-day note dated August 15. Sunshines discount rate was 7%. What proceeds

On November 2, Sheffield Company discounted at Sunshine Bank a $5,760 (maturity value), 129-day note dated August 15. Sunshines discount rate was 7%.

What proceeds did Sheffield Company receive?

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

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