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Venus company needs to raise additional funding of $200,000 to purchase inventory. The company has decided to raise the funds through the issue of a

Venus company needs to raise additional funding of $200,000 to purchase inventory. The company has decided to raise the funds through the issue of a 60-day bank-accepted bill rollover facility. The bank has agreed to discount the bill at a yield of 7.8%. At what face value will the initial bill be drawn?

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