Hafers, an electrical supply company, sold $4,800 of equipment to Jim Coates Wiring, Inc. Coates signed a promissory note for 90 days with 4.5% interest. After 60 days Hafers was short of funds and contacted Charter One Bank, the bank agreed to take over the note at a 6.2% discount. What proceeds will Hafers receive?
Select one:
a. $4828.92
b. $4854
c. $4849.92
d. $4759.92