Answer:
$52,490
Explanation:
The computation of the cash proceed is shown below:
= Issued price - discount expense
where,
issued price is $54,300
And, the discount expense would be
= Issued amount × rate of interest × number of days ÷ (total number of days in a year)
= $54,300 × 10% × (120 days ÷ 360 days)
= $1,810
Now put these values to the above formula
So, the value would be equal to
= $54,300 - $1,810
= $52,490
