Question: On March 3 1 , Dower Publishing discounted a $ 3 0 , 0 0 0 note at a local bank. The note was dated

On March 31, Dower Publishing discounted a $30,000 note at a local bank. The note was dated February 28 and required the payment of the principal amount and interest at 6% on May 31. The banks discount rate is 8%.
How much cash will Dower receive from the bank on March 31?

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