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Question: On July 14, Gracie Paul accepted a $60,000, 6%, 160-day note from Mike Lang. On November 12, Gracie discounted the note at Lend Bank

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On July 14, Gracie Paul accepted a $60,000, 6%, 160-day note from Mike Lang. On November 12, Gracie discounted the note at Lend Bank at 7%. What proceeds did Gracie receive?

Please explain and do not copy from Chegg. otherwise i have to report the answer.

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