Question: Please show the working steps COB Ltd has decided to draw down a 180-day Australian bank accepted bill to meet its short-term liquidity needs. The

Please show the working steps

COB Ltd has decided to draw down a 180-day Australian bank accepted bill to meet its short-term liquidity needs. The company's bank charges an acceptance fee of 1% of the face value p a. and two $1,000,000 face value bank bills are drawn down to yield 6.0% p a. The net proceeds received by the company are closest to: a) $1, 912323. b) $ 1, 922, 523. c) $1, 932, 660. d) $1, 942, 523

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