Western Appliance Inc.has planned a 3-month issue of commercial paper with a face value of $15,000,000.The paper is set to sell at 98% of face value.What is the discounted selling price of the firm's commercial paper?
A) $13,300,000
B) $14,000,000
C) $14,700,000
D) $15,400,000
Correct Answer:
Verified
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