As the drawee of the above bill is not a banker, the payee requested that acceptance made by the drawee must designate his account with bank as payer in order to ask that bank to discount this bill.

  In compliance with the request, drawee has made acceptance as above. Suppose the bill was discounted on 6 Oct. by Barclays Bank Ltd., London at the rate of 9% per annum. A year contains 365 basic days. Please calculate discount amount and net proceeds.

  Discount amount:

  ________________________________________________

  Net proceeds:

  ________________________________________________