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Business, 18.10.2019 23:20 romanlittlewood

Ireland corporation obtained a $40,000 note receivable from a customer on june 30, 2011. the note, along with interest at 6%, is due on june 30, 2012. on september 30, 2011, ireland discounted the note at cloverdale bank. the bank's discount rate is 10%. what amount of cash did ireland receive from cloverdale bank?

a. $39,220
b. $40,600
c. $36,000
d. $36,820

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Ireland corporation obtained a $40,000 note receivable from a customer on june 30, 2011. the note, a...
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