Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $50,400. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 8%. $fill in the blank 1 50,400 b. Determine the proceeds of the note, assuming the note is discounted at 8%. $fill in the blank 2 4,032