Response to the following problem:
Tallent Company received a $30,000, 6-month, 10% interest-bearing note from a customer. After holding the note for two months, Tallent was in need of cash and discounted the note at the United National Bank at a 12% discount rate. The amount of cash received by Tallent from the bank.
PLEASE SHOW CALCULATIONS ON HOW YOU ARRIVED AT YOUR ANSWER.