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Canada corp needs 16000 for one quarter to finance a

Question: Canada Corp., needs $16,000 for one quarter to finance a deficit. Interest charges are 4% per quarter. Your bank requires an 8% compensating balance. How much must your firm borrow in order to obtain the needed funds? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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