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Market News publishing reported on the sale of a promissory note. ZTEST Electronics announced that it agreed to sell a promissory note (the "Note") in the principal amount of $318,019.95 owed to them by Parmatech Electronic Corporation. The note, negotiated on March 15, is a 360-day note with 8.5% interest annum. Halfway through the life of the note, Alpha Bank offered to purchase the note at 8.75%. Baker Bank offered to purchase the note at 9.0%. a. What proceeds will ZTEST receive from Alpha Bank? b. What proceeds will ZTEST receive from Baker Bank? c. How much more will ZTEST receive from Alpha Bank? Round to the nearest cent.
