Word Problem $11-11($Algo$)[$LU $11-2(1)]$

On August $15,$ Sheffield Company discounted at Sunshine Bank a $$9,000($maturity value$),122-$day note dated May $10.$ Sunshine's

discount rate was $8\%.($Use Days in a year table.$)$

What proceeds did Sheffield Company receive?

Note: Use $360$ days a year. Do not round intermediate calculations.