Question: Three years, three months before its due date, an eight-year note for $3838.19 bearing interest at 3.3% compounded annually is discounted at 5.9% compounded quarterly.

Three years, three months before its due date, an eight-year note for $3838.19 bearing interest at 3.3% compounded annually is discounted at 5.9% compounded quarterly. Find the compound discount. The compound discount is S (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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