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Ryan Furniture wants to buy new office equipment for $8,000 with a 5% cash discount....

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Accounting

Ryan Furniture wants to buy new office equipment for $8,000 with a 5% cash discount. Ryan needs more cash to pay the bill and is considering discounting a 130-day note dated May 4 with a maturity value of $7,000 at Security Bank at a discount rate of 9% on July 8. Should Ryan discount the note?

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