A company requires a $150,000 annual loan and borrows on a discount interest basis at...
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Accounting
A company requires a $150,000 annual loan and borrows on a discount interest basis at a nominal annual rate of 12 %. If the company must actually receive $150,000 in net proceeds, then what must be the face value of the note?
Select one:
a. $170,455
b. $168,000
c. $150,000
d. $132,000
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