Rex Corporation accepted a $12,000, 7%, 120-day note dated August 8 from Regis Company in settlement of a past bill. On October 11, Rex discounted the note at Park Bank at 8%. (Use Days in a year table.)

a. What is the notes maturity value? (Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.)

Maturity value $

b. What is the discount period?

Discount period days

c. What is the bank discount? (Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.)

Bank discount $

d. What proceeds does Rex receive? (Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.)

Proceeds received $