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Wilson Company borrows $500,000 from the bank and is required to maintain a 15 percent compensating balance. Further, Wilson has an unused line of credit

Wilson Company borrows $500,000 from the bank and is required to maintain a 15 percent compensating balance. Further, Wilson has an unused line of credit of $200,000, with a required 11 percent compensating balance. What is the total required compensating balance the firm must maintain?

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