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ABC Corporation wishes to raise money by selling a 90-day promissory note in the short-term...

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Accounting

ABC Corporation wishes to raise money by selling a 90-day promissory note in the short-term money markets. The note promises to pay the holder $10,000,000 at maturity. If yields on similar risk notes are currently 3.5% p.a., how much money will ABC Corporation receive for the note?

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