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Westminster Insurance Company. Westminster Insurance Company plans to sell $2,000,000 of eurocommercial paper with a 60 -day maturity and discounted to yield 5.70% per annum.

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Westminster Insurance Company. Westminster Insurance Company plans to sell $2,000,000 of eurocommercial paper with a 60 -day maturity and discounted to yield 5.70% per annum. What will be the immediate proceeds to Westminster Insurance? Assume a 360-day year. The immediate proceeds to Westminster Insurance will be $ (Round to the nearest cent.)

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