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Proceeds from notes payable On January 26, Nyree Co. borrowed cash trom Conrad Bank by issuing a 45-day note with a face amount of $300, 000. Assume 360 days in a year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 6%. b. Determine the proceeds of the note, assuming the note is discounted at 6%. A borrower has two alternatives for a loan: (1) issue a $150,000,45-day, 4% note or (2) issue a $150,000,45-day note that the creditor discounts at 4\%. Assume a 360 -day year. a. Compute the amount of the interest expense for each option. for each alternative. b. Determine the proceeds received by the borrower in each situation. (1) $150,000,45-day, 4% interest-bearing note (2) $150,000,45-day note discounted at 4% c. Alternative is more favorable to the borrower because the borrower