Roni Lockard signed a $22,500 simple discount promissory note at the Pacific National Bank. The discount rate was 11%, and the note was made on February 17 (not in a leap-year) for 107 days.

a. What proceeds will Roni receive on the note?

b. What is the maturity date of the note?

Use the ordinary interest method, 360 days, to solve it.