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The time from acceptance to maturity on a $6,000,000 banker's acceptance is 360 days. The importing bank's acceptance commission is 2 percent and the market

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The time from acceptance to maturity on a $6,000,000 banker's acceptance is 360 days. The importing bank's acceptance commission is 2 percent and the market rate for 360-day B/As is 3 percent. Calculate the amount the banker will receive if the exporter discounts the B/A with the importer's bank

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