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Robinson s , an electrical supply company, sold $ 4 , 8 0 0 of equipment to Jim Coates Wiring, Incorporated Coates signed a promissory

Robinsons, an electrical supply company, sold $4,800 of equipment to Jim Coates Wiring, Incorporated Coates signed a promissory note May 12 with 4.5% interest. The due date was August 10. Short of funds, Robinsons contacted Capital One Bank on July 20; the bank agreed to take over the note at a 6.2% discount. (Use Days in a year table.)
What proceeds will Robinsons receive?
Note: Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.

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